UDYAM PORTAL

According to the Union Minister of Micro, Small, and Medium Enterprises, over one crore Micro, Small, and Medium Enterprises (MSMEs) have registered on the Udyam portal in the past 25 months.

What is the Udyam portal??

It was introduced on July 1st, 2020.
The Union MSME ministry introduced an online mechanism for registering MSMEs.
Additionally, it is connected to the databases of the Goods and Services Tax Network and the Central Board of Direct Taxes (CBDT).
A channel of communication and engagement between taxpayers, the federal government, several state governments, and other stakeholders is established via the complex and one-of-a-kind IT enterprise known as GSTN.
It is entirely online, doesn't call for any paperwork, and helps MSMEs operate more easily.

Feature

The MSME registration process is entirely electronic, paperless, and self-declaratory. No documentation or paperwork must be uploaded in order to register an MSME.
After registration, a Registration number will be provided.
An Udyam Registration Certificate will be issued once the registration process is complete. This certificate will feature a dynamic QR Code that may be used to visit the web page on our portal and information about the company.
PAN & GST connected information on an enterprise's investment and revenue will be automatically retrieved from the relevant government data repositories

Significance

This procedure will be incredibly easy and seamless for business owners.
It will serve as a model for ease of doing business both domestically and abroad.
Transaction costs and time will be cut. Entrepreneurs and businesses can concentrate on doing their actual jobs while being globally competitive.
Additionally, MSMEs support the nation's exports, GDP, and job creation.

New initiative

For the sharing of Udyam data, the MSME ministry inked MoUs with the Tourism Ministry and the National Small Industries Corporation.

Additionally, the Udyam registration Digi locker facility would be linked.

About MSME

The Micro Small and Medium Enterprises (MSMEs) industry make a significant contribution to the nation's socioeconomic growth.
Due to the sector's exports and contribution to India's Gross Domestic Product (GDP), the industry has grown significantly in prominence.
Additionally, the sector has made significant contributions to the growth of entrepreneurship, particularly in India's semi-urban and rural regions.
The Micro, Small & Medium Enterprises Development (MSMED) Act of 2006 specifies two categories into which Micro, Small & Medium Enterprises (MSME) are divided: Manufacturing Enterprises and Service Enterprises.

Source: PIB

Join Our Telegram

World bank logistic performance index 2023

World bank logistic performance index 2023

28 Apr, 23
SHARE

World bank logistic performance index 2023 India is now ranked 38th out of 139 nations in the Logistic Performance Index (LPI) 2023 of the World Bank. From its previous rankings of 44th in 2018 and 54th in 2014, this is a notable improvement. Earlier, the Logistics Ease Across Different States (LEADS) Report 2022 was published by the Mini

Smuggling of Gold

28 Apr, 23
SHARE

Smuggling of Gold Airports discovered more than 63% of this illegal gold. The Department of Revenue Intelligence recently conducted the Golden Dawn Operation across India, seizing 101.7 kg of illegal gold valued at Rs 51 crore. Despite the fact that India receives a legal import of about 800-1,000 tonnes of gold each year, the illicit mar

India-Thailand Relations

27 Apr, 23
SHARE

India-Thailand Relations Both parties expressed satisfaction with the ongoing bilateral defence cooperation at the 8th India-Thailand Defence Dialogue, which was held in Bangkok, Thailand. Cultural ties and mutual cooperation that have been shaped by thousands of years of lasting historical and cultural ties characterise India and Thailand

Translocation of Elephants

27 Apr, 23
SHARE

Translocation of Elephants The Kerala government's appeal of the order of the Kerala High Court is rejected by the Supreme Court. The Kerala government's appeal against the Kerala High Court's directive to move Arikomban (Wild Elephant), the "rice tusker" of Munnar, to the Parambikulam tiger reserve was recently dismis

Global Buddhist Summit

26 Apr, 23
SHARE

Global Buddhist Summit In order to improve diplomatic and cultural ties with other nations, the Ministry of Culture recently organised the First Global Buddhist Summit 2023 in collaboration with the International Buddhist Confederation (IBC). About the summit "Responses to Contemporary Challenges: Philosophy to Praxis" is