A micro, small, and medium-sized enterprise (MSME) will now be known as Udyam according to the MSME ministry notification issued on June 26th, 2020. The ministry has also developed detailed criteria for the categorization of MSMEs, as well as the registration procedure and the facilitation arrangements made by the ministry in this process. The notification clarified that exports of goods or services or both are excluded when calculating any enterprise's turnover whether it is micro, small, or medium. This further mentioned that the method of registration will be recognized as udyam registration.
उद्यम पंजीकरण (Udyam Registration) जिसे पहले उद्योग आधार के रूप में जाना जाता था, यह 1 जुलाई, 2020 को “उद्योगम पंजीकरण” के नाम से माइक्रो स्मॉल मीडियम एंटरप्राइजेज (MSME) के तहत भारत सरकार द्वारा लागू की गई नई प्रणाली है।
Udyam registration is a new definition under MSME for Udyog Aadhaar Registration. On 1 July 2020, the Indian government launched the Udyam Registration with the goal of simplifying Udyog Aadhaar's hard registration process and encouraging business-friendliness and saving the entrepreneur from a difficult registration system.
Udyam registration is the new name for the previous Udyog Aadhaar Registration. The Government of India not only changed the name but also simplified the online applying procedure. The new process started from 1st july 2020 onwards.
Udyam Registration is a sort of government enlistment which is outfitted close by an affirmation confirmation and a stand-out number for avowing MSMEs and hence it is in like manner called MSME Registration. The essential purpose of Udyam Registration is to unravel the repetitive and complex strategy of selecting any business under Medium and Small Enterprise (MSME).