MSME sector is the base of the Indian economy. The export sector is contributed 50% by MSME. The development of manufacturing and service enterprises is helped by UAM (Udyog Aadhaar Memorandum) to simplify the process of MSME registration.
Udyog Aadhar Registration is the procedure of getting the 12-digit registration number of your MSME business under the government to avail the benefits in gaining the loans, subsidies provided for small scale industries.
Udyog Aadhar is the certification process for small scale industries to avail the benefits provided by the Government for MSME by the MSMED act, 2006 and MSME amendment act, 2016. MSME is the backbone of industrial development. 50% of exports occur in this sector.
The Micro, Small, and Medium Enterprises (MSME) sector have emerged as a crucial piece in India’s overall economic growth and development. It is an essential part of the critical supply chain for products and services.
MSME stands for Micro, Small and Medium Enterprises. According to the new definition, an enterprise is considered an MSME depending on its annual turnover.