Benifits Of Udyog Aadhar Registration

Once the existing or new, small and medium or micro enterprises start, they need to get themselves registered under Udyog Aadhar. They receive unique 12 digit ID, and after they get registered, they can take the benefits of all the Incentives for MSME's.

What is Udyog Aadhar?

Aadhaar is a 12 digit number. The reason to launch this Aadhar is to provide maximum benefits to the small and medium scale industries, which are registered with MSME through the Aadhar number provided. Initially, this scheme was available in the state of Punjab only, but after some time this scheme was made available to all small Enterprises all over India.

Understanding MSME's

Udyog Aadhar scheme is available to MSME's only, hence it is important to know what MSME stands for. MSME stands for Micro Small and Medium Enterprises. These are divided on the basis of investment made by them in manufacturing and service sector.

 

More on: Documents Required for MSME Registration

Benefits of Udyog Aadhar

A large number of enterprises in India are not registered because the process involved in the registration process is sometimes cumbersome and hence the small and medium enterprises in India are unable to tap on the benefits which are apportioned to them by central and state government.

This is the reason why Udyog Adhaar originated, the purpose of the scheme is to ensure that the coverage of projects launched by the government is available to all the companies and they can avail the benefits under these schemes.

 

Related: MSME Subsidy Scheme

 

MSME play a crucial role in the current Indian economy as they generate a lot of employment opportunities and in the rural and backward area and hence state government and the central government has launched various initiatives to assure equal distribution of national income and wealth in India.

A sole proprietorship is the most common form of business, which is practised throughout India as it involves minimum compliance procedure and hence it is easier to run such type of business. Sole proprietors can also register themselves with the government as MSME with a more straightforward method through online method.

Benefits of Registering Udyog Aadhar Memorandum

Udyog Aadhar registration process can be completed through an online process and is not possible to be achieved through offline method; the government has made this process free of cost.

 Small and Medium Enterprises can register their companies with the government and avail following benefits.

  • Loans provided to the small enterprises are collateral free

  • Several exemptions on Direct Tax

  • Barcode registration subsidy

  • Disputes are resolved swiftly by the government

  • The government of India also provides exclusive considerations for participating in international trade

  • Concessions are provided in the electricity bills

  • Payment made for obtaining ISO certification is reimbursed by the government

  • The government provides 50% subsidy on any patent registration

  • The rate of interest from banks is reduced

Udyog Aadhaar enables all enterprises to file and register themselves so that simply by using Udyog Aadhar Number they can access all other services provided by the government.

Having Aadhaar Card is necessary to file registration online although if the entrepreneur who does not have Aadhaar they have an option to submit the physical copy of Udyog Adhaar memorandum to the general manager (GM) of the concerned district Centre.

Other Government Subsidies

  • Government Subsidies to MSME

  • Credit Guarantee Fund Trust Scheme

  • Udyog Adhaar

  • Credit Linked Capital Subsidy Scheme

  • Women Entrepreneurship

  • Incubation


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