MSME is Micro, Small, and Medium Enterprise, which was introduced in agreement with the Micro, Small & Medium Enterprises Development (MSMED) Act, 2006 by the Government of India.
MSMEs are critical contributors to the country’s socio-economic development.
The role of MSME in the Indian economy is important, as they are key contributors to the socio-economic development of the country.
The initiative of MSME started functioning in 2006 to create a competitive environment and encourage small businesses to ensure speedy development and boost the economy.
The MSMEs are categorized into manufacturing sectors and service sectors.
The sectors are classified as per the investment, annual turnover, and investment.
Below is the reset classification of the micro, small and medium enterprises.
| Criteria | Micro Enterprises | Small Enterprises | Medium Enterprises |
| Investment | Less than ₹ 1 Cr | Less than ₹ 10 Cr | Less than ₹ 50 Cr |
| Annual turnover | Less than ₹ 5 Cr | Less than ₹ 50 Cr | Less than ₹ 250 Cr |
Process of MSME Registration
MSME registration can be done online. Following is the process of MSME registration Online
- Log in to the website of the MSME online application.
- Enter the details like Aadhar details, PAN details, social category and gender, MSME number, investment amount, etc.
- Gather the documents required for the registration.
- Submit the application process.
- Now, the verification will be done which can take up to 2 working days.
- Once the application is approved registration will be done.
- MSME registration certificate will be emailed.
Benefits of MSME Registration
There are various benefits of the MSME registration online or offline:-
- Businesses who have got the registration done can get a loan at a lower interest rate.
- You can avail of tax benefits under MSME Act.
- MAT or minimum alternate tax can be extended to 15 years from the regular 10 years.
- MSME registered enterprises get preference for government-issued licenses and certificates.
- You can enjoy concessions and rebates on the cost of patenting and industry setup.
- Many government tenders are given to only MSME registered enterprises.
- It gets easy access to credit.
How to Download MSME Certificate
For the MSME registration certificate download perform the given steps:-
Step 1: Open the given link: https://udyamregistration.gov.in/UA/PrintAcknowledgement_Pub.aspx.
Step 2: Enter your 12-digit UAM number or Udyog Aadhar number.
Step 3: Enter your mobile number as per your Udyog Aadhar card.
Step 4: Click on ‘Download’.
Also, Read Start Up India Scheme
