Udayam Registration - Taxonomy

Udyam Registration is a free, online registration process for micro, small, and medium enterprises (MSMEs) in India. It was launched by the Ministry of Micro, Small and Medium Enterprises (MSME) on July 1, 2020.

To be eligible for Udyam Registration, an enterprise must meet the following criteria:

• It must be a manufacturing or service enterprise.
• It must be located in India.
• It must have a minimum investment of ₹25 lakh for manufacturing enterprises and ₹10 lakh for service enterprises.

The Udyam Registration process is simple and can be completed in a few steps. The applicant must first create an account on the Udyam Registration portal. Once the account is created, the applicant can fill out the registration form and submit it. The application will be reviewed by the MSME ministry and the applicant will be notified of the outcome within a few days. On successful registration, the enterprise will be assigned a 19-digit Udyam Registration Number. This number will be used to identify the enterprise for all government purposes.

The benefits of Udyam Registration include:

• Access to government schemes and benefits for MSMEs
• Easier access to bank loans and other financial assistance
• Increased credibility with customers and suppliers