Ease of Doing Business for MSMEs: Zero-expense MSME registration portal Udyam Registration has neared 50 lakh registrations in 14 months considering that its launch on July 1, 2020. The very first 25 lakh registrations have been recorded on the new paperless portal in eight months (on March 5, 2021) although the following 25 lakh registrations are most likely to be accomplished in significantly less than eight months – by October. The accessible on the net information on registrations on the Udyam Registration portal by the MSME Ministry showed 49,01,586 MSMEs have currently registered. This integrated new MSME registrations as nicely as Udyog Aadhaar Memorandum (UAM) holders who migrated to the new portal. According to the MSME Ministry’s 2020-21 annual report, involving September 2015 and June 30, 2020, 1,02,32,451 (1.02 crore), MSME registrations have been completed on the e-filing technique beneath Udyog Aadhar Memorandum (UAM) that was replaced by Udyam Registration.
Maximum registrations on the new portal have been recorded from Maharashtra with 10.38 lakh units registered followed by 5.30 lakh registrations from Tamil Nadu, 4.22 lakh from Gujarat, 4.06 lakh from Rajasthan, 3.74 lakh from Uttar Pradesh, and so on. Lakshadweep, Ladakh, Sikkim, Meghalaya, Arunachal Pradesh, have been amongst the states with the least registration from their respective MSMEs, the official information showed.
Udyam Registration is primarily a self-declaration portal for entrepreneurs to register their enterprises with only the Aadhaar quantity. Moreover, the portal automatically pulls PAN and GST-linked information on investment in the company, according to Udyam Registration considering that it is integrated with Income Tax and GSTIN systems. Registered MSMEs are offered a permanent registration quantity and a certificate post-registration. The certificate bears a QR Code from which the information about the enterprise can be accessed.
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“The portal will help the government aggregate the data on the number of MSMEs in the country. Moreover, the government would also get data based on the product category, for instance, garment, electronics, gems, auto, etc., and the size of the enterprise along with the investment and turnover. Also, geographically, the government would get the data to understand the density of the MSMEs based on city, state, or district wise. Data is a big thing to harvest and today it is all about data,” Vishwa Nath, Managing Director, Nath Bros Exim International and Co-chairman, Industry Affairs Committee, PHD Chamber of Commerce and Industry had told TheSpuzz Online.
MSMEs possessing Entrepreneur Memorandum – II or UAM registrations just before June 30, 2020, and earlier valid till March 31, 2021, have been offered an extension to switch to the new portal by this year-finish. Last year, the Reserve Bank of India (RBI) had stated that current EMs II and/or UAMs of MSMEs obtained just before June 30, 2020, will continue to stay valid till March 31, 2021, even as MSMEs had to register on the Udyam Registration portal just before March this year.
According to the new MSME Minister Narayan Rane, the majority of registered MSMEs on the new portal are service enterprises. While 36 per cent have been in the manufacturing sector, 63.8 per cent have been in the service sector, the minister had stated in the Rajya Sabha in August 2021.