MSME REGISTRATION (UDYOG ADHAAR)

 

Basics

 

Adhaar number issued for Business Unit is known as Udyog Adhaar. Indian government has provided many benefits for Micro, Small and Medium Enterprises (MSME). In order to be eligible to get these benefits, any entity should register itself as MSME/SSI enterprise under Micro, Small and Medium Enterprises Development Act, 2006.

 

Advantages

 

1. Gets preference in procuring Government Tenders.

2. Collateral free loans from Banks and financial institution.

3. Exemption on interest rate on overdraft.

4. Eligible for Industrial Promotion subsidy.

5. Subsidy on Patent registration.

6. Right of interest on delayed payments from buyer.

7. Time bound resolution of disputes with buyers through Arbitration and Conciliation.

8. Concession in Electricity Bills.

9. Reimbursement of ISO Certification charges.