MSME stands for micro, small and medium enterprises and any enterprise that falls under any of these three categories. MSME enterprises are the backbone of any economy and are an engine of economic growth, promoting equitable development for all. Micro, Small and Medium sized enterprises in both the manufacturing and service sector can obtain MSME Registration under the MSMED Act.
1. Is MSME/Udyog Aadhar Registration is Mandatory?
- The MSME/Udyog Aadhar Registration is only needed to avail of benefits, subsidies provided by government to small scale industries and service providers time to time. It is absolutely voluntary. However, as it is a fairly easy registration to get quickly (provided you have a manufacturing plant or a commercial space where you render services), many business opt for it over other registrations.
2. Is Aadhaar Number Mandatory For Online MSME Registration?
- At present Aadhaar Number is mandatory for issuance of MSME Certificate.
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