Between September 2015 and June 2020, 1.02 crore MSMEs were registered under UAM, with approximately 22 lakh units registered under EM II between 2007 and 2015.
The Modi government’s new MSME registration portal, which was launched alongside the revised MSME concept on July 1, 2020, has surpassed the 30-lakh registration mark. According to online data available with the MSME Ministry, 30,00,822 MSMEs were registered on the Udyam Registration portal as of May 16, 2021, which replaced the previous method of filing for Udyog Aadhaar Memorandum (UAM).
Micro units accounted for nearly 28 lakh registered businesses, followed by nearly 1.78 lakh small businesses and 24,657 medium-sized businesses. Last year, the Reserve Bank of India mandated that businesses registered under the Entrepreneur Memorandum (EM) part II and UAM file for new registrations on the Udyam Registration portal until June 30, 2020. However, it was unclear how many of the 30 lakh MSMEs were brand new and which had migrated from EM II and UAM.
According to the MSME Ministry’s FY21 annual report, while the government reported these 30 lakh registrations in ten-and-a-half months, there were 1.02 crore registered MSMEs under UAM between September 2015 and June 2020, as well as nearly 22 lakh units registered under EM II between 2007 and 2015. As a result, 24.1 percent of India’s 1.24 crore registered MSMEs (UAM and EM II) were registered on the new portal so far, assuming that all Udyam Registrations were existing MSMEs from UAM or EM II.
To make end-to-end MSME registration paperless, the latest Udyam Registration portal is integrated with the CBDT and GST networks, as well as the public procurement portal Government e-Marketplace. Prior to the MSME Development Act of 2006, MSMEs were registered at District Industries Centres (DICs). MSMEs had to file EM-part I at DICs before starting an enterprise, and EM-part II after starting development, according to the act’s provisions. According to the National Sample Survey Office’s 73rd round, there were 6.33 crore unincorporated non-agriculture MSMEs in India in FY16, with 6.30 crore being micro companies, 3.31 lakh being small enterprises, and 5,000 being mid-sized businesses, according to the annual report.
ALSO READ: Traders are dissatisfied with the loss of business caused by local shutdowns.
Hello, my name is Anuj Boruah. I am quite interested in writing about current events in business, finance, and the economy. I work as a newswriter at Reviewminute.
HR Beat Production has unveiled its latest Haryanvi hit, "Bahu Chaudhariya Ki," featuring artists Aman…
Apple's highly anticipated iPhone 16 series is set to launch on Friday, with the flagship…
Vipin Reshammiya, father of Himesh Reshammiya, has passed away at the age of 87. He…
On its eighth day at the box office, "Stree 2" has maintained its impressive momentum,…
On the fourth day since its release, the movie "Crack" managed to accumulate a mere…
Rakul Preet Singh Shines in Pink, Golden, and Saffron Lehenga; Jackky Bhagnani Dons Pink and…
This website uses cookies.