MSME-registration platform Udyam crosses 3 crore registration mark; Check details

Udyam registration: The government’s online registration platform for MSMEs has crossed the 3 crore registration mark in just three years and four months of its launch, according to the data on the Udyam platform. As of today, October 27, the Udyam platform reflects 3 crore registered enterprises, including 96.72 lakh non-GST small businesses registered on the Udyam Assist platform.

Udyam is the only platform by the MSME Ministry authorised for registering micro, small and medium enterprises with up to Rs 250 crore turnover. The majority of the enterprises registered on the platform are micro-enterprises, constituting 2.93 crores of the total 3 crore enterprises on the platform. There were 5.78 lakh small enterprises and 53,935 medium enterprises on the platform. Cumulatively, these enterprises employed over 14.87 crore people, including 3.37 crore women employees.

Considering the state-wise registration data, Maharashtra with over 35 lakh enterprises led the table. Tamil Nadu (20.5 lakh), Uttar Pradesh (19.13 lakh), Gujarat (14.87 lakh), and Rajasthan (14.84 lakh) followed Maharashtra to be among the top five states in terms of registration.

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The 2.03 crore MSMEs GST-registered entities on the Udyam platform constituted 53.41 lakh manufacturing units and 1.49 crore service providers. Out of these, 1.92 lakh MSMEs are exporting enterprises, and have cumulatively exported goods and services worth over Rs 15 lakh crore.

Also read: Udyam Certification: How to update or change details in your Udyam certificate online? Here’s process

It is mandatory for MSMEs to get registered on Udyam, and obtain a certificate in order to avail of the benefits provided by the central government under the umbrella of the schemes for MSMEs.

The Reserve Bank of India (RBI) has earlier informed all financial institutions including banks and NBFCs to treat informal micro enterprises (IMEs) not covered under the Goods and Services Tax (GST) regime or exempted from the CGST Act, 2017, but having the Udyam Assist Certificate (UAC) as micro-enterprises for classification under the priority sector lending (PSL) norms.

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