UDYAM Certificate supports and encourage the expansion of small and medium-sized enterprises (SMEs) and micro-enterprises throughout the nation. The UDYAM Certificate replaces the old system defined by the Micro, Small, and Medium Enterprises Development (MSMED) Act, 2006 in an effort to expedite and simplify the registration procedure for these businesses. This certificate provides a wealth of advantages and assistance, making it an essential part of the Indian government's commitment to promoting economic development and entrepreneurship.
Features of UDYAM Certificate
UDYAM Registration is open to businesses involved in manufacturing or providing services. Eligibility is determined based on specific criteria related to investment and turnover.
Businesses are categorized based on their investment in plant and machinery or equipment for manufacturing enterprises, and turnover for service enterprises. This classification determines their status as micro, small, or medium enterprises.
Access to Benefits:
After registering, businesses gain access to an array of benefits, including financial support, subsidies, and various government schemes tailored to promote the growth of SMEs. These incentives play a crucial role in enhancing their competitiveness and sustainability.