Udyog Aadhaar for MSMEs
Udyog Aadhaar for MSMEs
The process for obtaining MSME registration has be simplified by the introduction of the Udyog Aadhar for MSME in India. Prior to the introduction of the Udyog Aadhaar, to obtain MSME or SSI Registration, two filing namely Entrepreneur Memorandum-I (EM-I) and Entrepreneur Memorandum-II (EM-II) had to be filed. With the introduction of Udyog Aadhaar, the process of obtaining SSI or MSME registration has been drastically simplified. In this article, we look at the procedure for obtaining Udyog Aadhaar.
Making MSME or SSI Registration Easy
The MSME Registration in each state is currently manage by the State’s District Industry Centers. The procedure for obtaining SSI or MSME registration is through manual filing and entrepreneurs find it difficult to obtain SSI or MSME registration as the process is ridden with challenges. This has led to many of the MSMSEs not being registered and operating out of the scope of the service provided by the Government.
In view of the above and to improve ease of doing business, the MSME department has developed a web portal for online filing of Entrepreneurship Memorandum I and II – required for obtaining MSME registration. The objective of introducing such a feature is to make the SSI or MSME registration process simple and available from anywhere. Currently this platform has been implemented by 14 states and nearly 60,000 applications have been filed online through the portal.
In addition to simplifying the registration process, the MSME registration form has also been simplified. Th proposed one page MSME registration form called Udyog Aadhaar registration form would be made in a self-declaration format under which the MSME will self-certify its existence, bank account details, promoter/owners’s Aadhar and other basic information required. Based on the simple form submitted, the business would be issued online at a minimum, a unique identifier or Udhog Aadhaar making the unit formally registered as a SSI or MSME.
With the simplification of the MSME or SSI Registration procedure, the Government envisages many more businesses being registered as a MSME or SSI. Further, in order to make the process even more simple, the Government has made the Udyog Aadhaar application process online as well. To obtain SSI or MSME Registration, visit IndiaFilings.com