MSME registration crosses 20-lakh mark on Udyam portal

MSME registration crosses 20 lakh mark on government’s Udyam portal.

Central Government’s paperless portal  to ease MSME registration ‘Udyam’ has seen more than 20 lakh registration mark ever since the launch on July 1, 2020. The portal had 20,29,095 MSMEs, going up by 84.4 per cent in the past three months.

The number of registered MSMEs as of November 7, 2020 stood at more than 11 lakh. The latest figures were shared by Union Minister for MSME Nitin Gadkari in a written reply to a question in the Rajya Sabha.

Udyam registration has been currently integrated with Central Board of Direct Taxes and GST networks along with the public procurement portal Government e-marketplace for end-to-end digital registration by MSMEs.

Nitin Gadkari said, “On 1st July, 2020, after enactment of new definition of MSMEs, a new registration portal ‘Udyam Registration’ has been launched by M/o MSME and so far 20,29,095 MSMEs are registered on the portal in All India.”

He added, “MSMEs are not required to upload any documents or proof except the Aadhaar number for registration. The government has also organized a single-window system at Champions Control Rooms, which are set up at MSME Development Institutes across India, and district industries centres for facilitating the process.”

According to the MSME Ministry, Out of 10 lakh registrations as of October 31, 2020, 3.72 lakh units were registered under the manufacturing segment while 6.31 lakh businesses belonged to the service sector. Further micro-enterprises had the highest share of 93.17% while only 5.62% and 1.21% were represented by small and medium enterprises respectively.