Govt’s Udyam portal witnesses over 11 lakh registrations

Launched on July 1, 2020, amidst the COVID-19 pandemic, Union MSME ministry’s new portal for MSME registration witnesses over 11 lakh registrations till now.

Seeking help from its field establishments to help entrepreneurs register entities on the portal and execute the process for registration, including:

National Small Industries Corporation,
Khadi and Village Industries Commission,
MSME-Development Institutes,
Technology Centers, and Coir Board.

Making the whole end-to-end MSME registration process digitized, the Udyam portal is integrated with the CBDT and GST networks and the public procurement portal Government e-Marketplace.

Till October 31, 2020, over 10 lakh registered units were recorded on the Udyam portal. Out of which:

3.72 lakh businesses were registered under the Manufacturing category
6.31 lakh units were registered under the Service sector.

According to the data shared by the ministry, among the total registered units,

micro-enterprises hold the maximum share at 93.17%,
followed by small business units with 5.62% and
medium businesses at 1.21%.

Categorizing the registered units by gender, the male entrepreneurs owned 7.89 lakh enterprises, while only 1.73 lakh units had the leadership of female entrepreneurs. 11,188 registered enterprises were led by Divyangjan (differently-abled) entrepreneurs. The data reveals that 1,01,03,512 was the total employment generated by the registered MSME units. Many jobs were created amid COVID-19.

Industries with the highest registered MSMEs are:

food products,
textile, apparel,
fabricated metal products,
machinery & equipment.

The top 5 states for the Udyam registrations are:

Maharashtra,
Tamil Nadu,
Rajasthan,
Uttar Pradesh,
Gujarat.

In the circular issued by the RBI in August, it is stated that the existing Entrepreneurs Memorandum (EM) part II and/or UAMs of MSMEs obtained before June 30, 2020, will continue to remain valid till March 31, 2021. While it also clearly mentions that the MSMEs already registered under EM part II and UAM will necessarily have to go for a new registration on the Udyam portal before the existing registration expires.

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