Udyam Registration also known as MSME Registration is nothing but a government registration that is provided along with a recognition certificate and a unique number. This is to certify small/medium businesses or enterprises.
The central motive behind the launch of this facility was to offer a way to the government to provide the maximum benefits to medium or small-scale businesses or industries in India, who are registered via MSME through their Aadhar Card Number.
The owner, director, or proprietor of the entity will provide his/her 12-digit Aadhar Number. This is a compulsory guideline whether the enterprise or entity is a sole proprietor, an LLP, a Private limited company, or anything else. It should have the recognition certificate provided via the MSME registration process.
Let’s get some things clear! The organizations which are eligible for Udyam Registration are meant to be either in manufacturing or producing or processing or preservation of goods or in providing the services. In other words, Traders who buy, sell, import, or export the goods are not even eligible for applying for Udyam Registration.
But you should know that there are a set of criteria that an entity has to meet to be classified as a medium, small, or micro-enterprise for obtaining the MSME registration.
Types of Enterprises ( for Manufacturing or Service sector, Both)
Micro Enterprises
Investment up to Rs 1 Cr and turnover up to Rs 5 Cr
Small Enterprises
Investment up to Rs 10 Cr and turnover up to Rs 50 Cr
Medium Enterprises
Investment upto Rs 50 Cr and turnover upto Rs250 Cr
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