In This Article Udyog Aadhaar Benefits, we will tell you about all the Benefits that you will get by Registering your business under Udyog Aadhar. Micro, Small and Medium Enterprises contribute around 40% of industrial production and 45% of exports. These figures obviously demonstrate the significance of the MSME area for the development of the Indian economy. Understanding the significance of MSMEs, the Government of India authorized Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act, 2006) with an intent to advance and create micro, small and medium ventures.
Micro, Small and medium enterprises help the government in solving many problems related to economic development of India. MSME Enterprises generate lots of opportunities for citizens of India in terms of employment and Businesses. So the Government makes all efforts to preserve and enhance growth in MSME sector. The Government of India has introduced many reforms and schemes for MSME in India. And to take advantage of these schemes, Micro, Small and Medium Enterprises must be enrolled under MSME to exploit the advantages gave under different Government plans to the smaller scale Businesses. In spite of the fact that not an impulse, it is constantly prudent for the recently settled Businesses to get themselves enlisted under the service. The Registered firms are qualified for specific advantages that let them go a stage forward towards making them fruitful financially.
The Udyog Aadhaar helps the Micro, Small and Medium Enterprises in getting themselves enrolled under MSME simpler by simply filling a one-page form and giving certain enterprise related details.
What is Udyog Aadhaar ?
Udyog Aadhaar arrives in a type of a Certificate and it has 12 digit enlistment number that is flowed by the Ministry of Micro, Small and Medium Enterprises (MSME) to the current or new small and medium scale Businesses who have started and finished the procedure for registration. The Main purpose for propelling the Udyog Aadhar is to boost the advantages to the small and medium scale businesses In India, who are enrolled with Ministry of Micro, Small and Medium Enterprises.
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The striking highlights of Udyog Aadhaar
- For Udyog Aadhar, Registration is online rather than individual filling. It is only a click work.
- For Udyog Aadhar, UAM can be recorded by self-declaration on the details of the enterprise
- For Udyog Aadhar, Personal Aadhaar number, Industry name, Address, Bank details, and some regular data, The adequate points that are required for petitioning for enrollment
- For Udyog Aadhar, One can record in excess of one Udyog Aadhaar with same Aadhaar Number.
- For Udyog Aadhar, There is No Fee for documenting.
- For Udyog Aadhar, Once it is filled and transferred, the Registration number is gotten in the email id that is given.
Recommend Read : Is Udyog Aadhar or MSME or SSI Registration are same
Udyog aadhaar Benefits to small and medium business
- Once enlisted with Msme and the Business gets a Udyog aadhar, the micro, small and the medium businesses would be qualified for all Government scheme benefits like Collateral free loans, the loan with the low rate of interest, simple credit etc.
- The Micro and Small Enterprises are likewise qualified for collateral-free loans up to Rs. 1 crore under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE Scheme). This is an insurance free credit and the Central Government takes assurance of the borrower and To enhance the convenient assets’ accessibility to the MSME Sector, the Government of India has ordered advances to Micro and Small Enterprises under priority sector lending. The banks are required to have 20% year on year development in loaning to Micro and Small Enterprises.
- The MSME enlisted endeavours get the budgetary help from the Government to take a part in the foreign expo. The venture is additionally qualified for the Government Subsidies as Central Government and State Governments reported under various plans and appropriations for the MSME part from time to time.
- The Government of India, by the method for Public Procurement Policy, 2012 gives that all Central Government Ministries, Departments, and Public Sector Undertakings might offer Preference to Micro and Small Enterprises in Government tenders and ought to get the base of 20 percent of their aggregate yearly estimation of products or services from Micro and Small Enterprises.
- Smaller scale and medium undertakings likewise appreciate Other Subsidies from State Governments, for example, extended credit facilities, Industrial extension support, and services, Assistance in marketing, Assistance for construction of industries in underdeveloped areas, Technical consultancy, assistance in the capital, Excise exemption and Exemption under direct tax laws so forth.
With such a significant number of advantages given to the Micro, Small and Medium ventures in India, one must complete a Udyog Aadhar enrollment as quickly as time permits. As though you need to assert any advantage from Central or State Government under any plan for Micro and Small businesses, at that point you would require the Udyog Aadhar Certificate.