It is a government registration for MSMEs that grants them a unique Identity Number and a recognition certificate, certifying them as micro/small/medium companies.

What are the advantages of Udyam Registration?

• Interest Rate Bank loans are subsidized.
• Banks offer collateral-free loans.
• Direct tax regulations govern exemptions.
• NSIC subsidises performance and credit rating fees.
• International trade fairs receive special treatment.

Who is eligible to apply for Udyam registration?

It is a zero-cost, free registration: Anyone planning to start a micro, small, or medium business can file Udyam Registration online through the Udyam Registration portal, based on self-declaration, with no need to upload paperwork, papers, certifications, or proof.

Conclusion

MSME Udyam Registration is an important step for MSMEs in India to acquire recognition, access incentives, and engage in government-provided growth possibilities. By streamlining the registration procedure and providing online services, the program intends to empower. MSMEs and foster their contribution to the economy.