The SME industry is the backbone of India’s economic growth with over 42.5 million units and 95% of its industrial organizations. Yes, it accounts for 45% of the total Indian manufacturing output. The Department of Micro, Small and Medium Enterprises India and the Government of India, have introduced the Udyog Aadhaar project to promote this sector’s efforts.
Udyog Adhaar is an authentication system like Aadhaar, but especially for corporations. The main objective of the MSME/SME program is to promote growth and to offer special Udyog Aadhaar benefits through subsidies.
Eligibility Criteria of Udyog Aadhaar:
Business entities that are classified basis their investment in plant and machinery (as per the table below) are eligible to apply for a Udyog Aadhar card.
(Investment in Plant & Machinery)
(Investment in Equipment)
|Micro-Enterprise||Up to Rs. 25 lakhs||Up to Rs. 10 lakhs|
|Small Enterprise||Up to Rs. 5 crore||Up to Rs. 2 crores|
|Medium Enterprise||Up to Rs. 10 crore||Up to Rs. 5 crores|
Free Registration Process – Udhyog Aadhaar:
- Login by accessing https:/udyogaadhaar.gov.in/UA/UAM Registration.aspx on the official website.
- Enter the number and the name of your Aadhaar in the ‘Aadhaar Number’ and ‘Entrepreneur Name’ fields.
- Choose the option then press the’ Validate and Generate OTP ‘ tab.
- Enter the OTP received on your mobile number that was registered.
- You are redirected to a form after successful verification.
- Fill out all fields such as’ Business name’ and’ Organization type.’ Check the data again to make sure that no mistakes are made.
- Select the Submit button at the bottom of the page.
Documents Needed to Register for Udyog Aadhaar:
- Twelve-digit Aadhaar number given to the applicant must be the management associate, the approved partner for the corporation and the authorized person for other business types.
- The Aadhaar card identification of the claimant.
- The candidate shall belong to the ST/SC/OBC.
- Name of the organization under which the service is carried out.
- Form of the company or private body.
- Postal address of the client, including an e-mail address for correspondence.
- The start date for the corresponding companies
- Any MSME application info previously.
- Business banking information like Bank Account Number and IFSC Code
- Key business fields–operation or development
- The National Industrial Classification (NIC) Standard must be included in the NIC Handbook. For all its operations, applicants can pick several National Industrial Classification 2008 (NIC) codes.
- The number of staff in the business
- Gross spending by business in machinery and equipment.
- District Industry Center (DIC) data, if necessary, the closest to this sector.
Top Benefits of Udyog Aadhar Registration:
- Applicants can avail of all the government schemes.
- Users can receive financial support for the goods to be shown in international exhibits.
- Receive government subsidies.
- Allow the processing of current bank accounts on behalf of the company easier.
- Allow companies to apply for micro-enterprise government loans and other associated competitive schemes.
Krishna Murthy is the senior publisher at Finance XOD. He is not only the senior publisher but also the owner of Tricky Finance. Krishna Murthy was one of the brilliant students during his college days. He completed his education in MBA (Master of Business Administration), and he is currently managing the all workload for sharing the best banking information over the internet. The main purpose of starting Tricky Finance is to provide all the precious information related to businesses and the banks to his readers.