New MSME registration system sees 11 lakh applicants

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SME Times News Bureau | 08 Nov, 2020
More than 11 lakh enterprises have got themselves registered under the new process for registration of Micro, Small and Medium Enterprises (MSMEs) that has come into effect in the name of 'Udyam Registration' from July 1.

The new process launched in July offers online system of registration for MSMEs. This follows revised definition of MSMEs announced by Finance Minister Nirmala Sitharaman in May as part of the relief package for the industry amid the Covid-19 outbreak.

Under the changes, the MSME Ministry has also launched a new portal for MSME/Udyam registration. The portal has also been seamlessly integrated with CBDT and GST networks as also with the GeM. Through this integration, government is now offering now MSME registration as a totally paperless exercise.

According a statement from the MSME Ministry, the government has instructed all of its Field Establishments such as MSME-Development Institutes, MSME Technology Centers, NSIC, KVIC, Coir Board to extend full support to entrepreneurs for Udyam Registration. Similarly, all District Magistrates and District Industries Centers have been requested to expedite registration by the MSMEs.

Grievances of MSMEs relating to registration are being handled by CHAMPIONS' platform through its network of Central Control Room and 68 State Control Rooms across the country.

As per the analysis of the registrations till October 31, 2020 (more than 10 Lakh), 3.72 lakh enterprises have registered under Manufacturing category whereas 6.31 lakh enterprises under Service sector.

The share of Micro Enterprises is 93.17 per cent whereas Small and Medium Enterprises are 5.62 per cent and 1.21 per cent, respectively. Also, 7.98 lakh enterprises are owned by Male whereas 1.73 lakh enterprises by Female entrepreneurs.

About 11,188 enterprises are owned by Divyangjan entrepreneurs. Moreover, the Top 5 Industrial sectors of registrations are - Food Products, Textile, Apparel, Fabricated Metal products and Machinery and equipments.

In all 1,01,03,512 persons have been given employment by these registered units. The five leading States for Udyam registrations are Maharashtra, Tamil Nadu, Rajasthan, Uttar Pradesh and Gujarat.

Under the terms of fresh registration, the process can be done without PAN upto March 31, 2021 as a transitional arrangement.

Similarly, Registration without GST number is also permitted up to that date.