Micro, Small and Medium Enterprises (MSMEs) under the Ministry of Micro, Small and Medium Enterprises play a major role in the socio-economic development of our country. A registered MSME can avail innumerable benefits from various schemes launched by the Government.
MSME (Udyam) Criteria
|Existing MSME Classification|
|Criteria : Investment in Plant and Machinery or Equipment|
|Manufacturing Enterprise||Investment < Rs. 25 lakhs||Investment < Rs. 5 Cr||Investment < Rs. 10 Cr|
|Service Enterprise||Investment < Rs. 10 lakhs||Investment < Rs. 2 Cr||Investment < Rs. 5 Cr|
The classification was amended by Finance Minister Nirmala Sitharaman in the latest stimulus package of Rs 3 lakh crore announced on May 13, 2020.
|Revised MSME Classification|
|Criteria : Investment and Turnover|
|Investment < Rs. 1 Cr
Turnover < Rs. 5 Cr
|Investment < Rs. 10 Cr
Turnover < Rs. 50 Cr
|Investment < Rs. 20 Cr
Turnover < Rs. 100 Cr
Benefits of MSME Registration
- Collateral free bank loans are available to all small and micro business sectors.
- 50% subsidy on patent registration.
- Get the benefit of different 1% overdraft interest rebate for each bank.
- Eligible for subsidy for industrial promotion.
- Protection against late payments
- Discounts are available for lower electricity bills.
- Reimbursement of ISO certification charges.
- Special rights to manufacture certain products.
- Take advantage of the technical innovation plan.
We undertake the following registrations;
- MSME (Udyam) Registration
- Small and medium enterprises need to fill up a single online application to register.
- If an individual wants to register for more than one industry, he / she can do individual registration.
- Documents required for registration include personal Aadhaar number, industry name, incorporation certificate, address, bank account details and some general information.
- In this the person can give self attested certificates.
- This process does not require a registration fee.
- After filling in the details and uploading, you will get the registration number.
- Heavy 50% subsidy is given to enterprises with registration certificate issued by MSME. This subsidy is available for patent registration by logging in with the MSME Registration Number (Udyog Aadhaar Number) and applying on the MSME Portal. MSMEs are guided to apply for the scheme only after the patent has been granted. For this, the applicant has to submit a receipt for payment of the fee.
Government Schemes for MSME
We assist in the registration of the following schemes ;
- Udyog Aadhaar: The benefit of registering under this scheme is facilitated by credit, loans and subsidies from the government.
- Zero Defect Zero Effect: In this model, goods manufactured for export must meet certain criteria so that they are not rejected or returned to India. The benefits of this scheme are based on the state policies.
- Grievance Monitoring System: Registration under this scheme is beneficial for resolving the grievances of business owners. In this, business owners can check the status of their complaints and open them if they are not satisfied with the result.
- Incubation: This scheme helps the novice to implement their new design, ideas or products.
- Credit Linked Capital Subsidy Scheme: Under this scheme, the government provides capital subsidy to enterprises to upgrade their technology.
- Women Entrepreneurship: The government provides capital, counselling, training and delivery techniques to these women.