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MSME Significance & Importance: Registration Procedure

India’s MSME sector plays a significant role in the country’s economy. It is responsible for generating a total of 45% of industrial employment.

Which is why the government has come up with several pro-MSME plans to encourage registration and expand their business operations.

However, to avail the benefits extended for MSMEs, they need to complete their MSME registration.

An entrepreneur has to visit Udyog Aadhaar’s official website and provide requisite details like Aadhaar number and the entrepreneur’s name.

Next, they would generate an OTP by clicking on ‘Validate and Generate OTP’. On the completion of the verification process, they would have to fill up the registration form with requisite details and then click on ‘Submit’.

To streamline the entire process further, individuals must make it a point to learn about MSME registration process and documentation in details.

To register successfully, applicants need to submit documents like proof of their business address, copies of their sale, purchase bill and business license.

Additionally, they would need to furnish a copy of the bills of equipment purchased and their partnership deed/ Articles of Association/Memorandum of Association.

Individuals must ensure to provide all the requisite documents to complete the registration process swiftly and to enjoy the benefits offered to the registered entrepreneurs. For example, income tax benefits, easy access to credit, subsidy on loan interest, etc.

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