MSME (Micro, Small and Medium Enterprises) / UDYAM
Micro, Small, and Medium Enterprises are considered a very significant piece of India’s legacy economic model and a part of the critical supply chain for products and services. This sector is the job creator as well as plays a crucial role in providing large-scale employment and industrialization of rural and backward areas.
Although getting MSME online registration is not mandatory but it is always suggested to small and medium enterprises to get it done it provides a variety of benefits. Benefits such as the rate of interest charged would be very less, tax subsidies, capital investment subsidies, and much other support from the government sector.
According to revised classification w.e.f. 1st July 2020, MSME is classified into 3 categories as per their Investment in Plant & Machinery and Annual turnover.