The micro, small and medium enterprises (MSMEs) ministry on Thursday extended the validity of the Udyog Aadhaar Memorandum (UAM) from March 31, 2021, to December 31, 2021. The extension would facilitate the holders to avail benefits of the provisions under various existing schemes and incentives, including Priority Sector Lending benefits for MSME.
Earlier, all enterprises registered until June 30, 2020, were asked to file a new registration on the Udyam Registration Portal before March 31, 2021.
UAM is a one-page registration form that constitutes a self-declaration format, under which the MSME entrepreneur will self-certify its enterprise’s existence, bank account details, promoter/owner’s Aadhaar details, and other required information.
“The said amendment has been carried out considering the hardships faced by MSMEs during the prevailing COVID-19 situation and the representations received from the various MSME associations, financial institutions, and government departments dealing with the interest of MSME Sector,” a statement read.
The MSME ministry expects the existing UAM holders would be able to migrate to the new system of Udyam registration — launched in July 2020 — and would avail the benefits of the government schemes, thereby paving the way for strengthening MSMEs and leading to their faster recovery, boost to their economic activity, and creation of jobs.
As per the official data, the portal has facilitated the registration and classification of more than 33 lakh enterprises as of June 17, 2021.
As per an IBEF report, India has about 6.3 crore MSMEs majorly dominated by micro-enterprises, and the number of registered MSMEs grew 18.5 percent Y-o-Y to reach 25.13 lakh (2.5 million) units in 2020 from 21.21 lakh (2.1 million) units in 2019.
The enterprises can register on https://udyamregistration.gov.in free of cost and without any documents. However, they will require PAN and Aadhaar cards for registering on the Udyam portal.
Since it is a one-time registration, no renewal is necessary. Post the registration, a permanent registration number is provided, and after completion of the process, a certificate is issued online.
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