Udyog aadhar MSME registration is a certificate provided to micro, small, medium-sized businesses in India under the Micro, Small and Medium Enterprise Development Act, 2006 (MSMED). Udyog Aadhaar used to be referred to as MSME registration earlier. Now, the process for obtaining MSME registration has been merged with Udyog Aadhaar registration and made online by the Government
Benefits of Udyog Aadhaar
Udyog Aadhaar registration is provided free of cost by the Government and its simple and easy to obtain online. After obtaining Udyog Aadhaar, a business can enjoy the following benefits:
- The applicant will receive financial support for participating in foreign expos to showcase their products.
- The applicant will also be eligible for government subsidies.
- Registration would facilitate the hassle-free opening of current bank accounts in the name of the business.
- It would also allow businesses to apply for government micro business loans and other such related beneficial schemes.
- Easier sanction of bank loans at lower interest rates.
Documents Required for Udyog Aadhaar
The applicants personal Aadhaar is the main requirement for obtaining Udyog Aadhaar in case of a proprietorship. No further documents are required other than an email and a mobile number.
To obtain Udyog Aadhaar registration, the business must have an investment in machinery or equipment that is less than Rs.25 crores or Rs.5 crores, respectively.
Once Udyog Aadhaar registration is obtained, there is no requirement for renewal. The registration is valid for life-time and there are no returns to be filed also.