What is Udyam Registration?
Udyam Registration in India or MSME Registration or SSI registration is a certificate that is provided to micro, small, and medium-sized businesses in India under the MSME Act, 2006. Udyam registration in India was earlier known as MSME registration. The primary objectives of the Micro, Small and Medium enterprises concerning the Udyam registration is as follows:
- To enable the Micro, Small and Medium enterprises on a large scale to effectively tackle the widespread problems of unemployment and poverty;
- To extend the benefits of various government schemes at one stop to the SSI units;
- To safeguard the SSI from financial harassment in the hands of the big industries.