Who Can Apply for MSME Registration in India

Who Can Apply for MSME Registration in India

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If you're planning to start a business of your own or looking to expand your existing business, Udyog Aadhaar (MSME) registration can be a good option. MSME is a government scheme which gives numerous benefits to enterprises of all sizes. With its numerous advantages, it has become a popular option for many entrepreneurs. 

However, not many people know what exactly is MSME or Udyog Aadhaar registration and how it works. So, here's a comprehensive guide on all you need to know about it.

Who Can Apply for MSME Registration in India?

The MSME sector in India is playing a critical role in the overall growth of the economy. With its diverse range of manufacturing and service-based operations, it contributes to a huge portion of the GDP. As a result, it has attracted quite a lot of attention from the central and state governments.

In order to avail various MSME related schemes, offers, and subsidies, the enterprise needs to be registered under the MSME Act. This registration is also required to avail loans from banks at a much lower rate of interest.

The EM number can be used to claim benefits like priority lending and cluster financing, 50% subsidy on patent registration, bar code registration, etc. Moreover, MSMEs are also eligible for several government tenders that reduce competition and enable them to grow. After submission of all the necessary details, your application will be approved by a MSME government official and you will receive a confirmation of your MSME registration along with an Entrepreneur Memorandum (EM) number.  They are also protected against delayed payments by buyers and receive a higher priority when it comes to resolving disputes.

 

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