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MSMEs recommended to get Udyog Aadhaar, might be essential for attracting Public Procurement 

KNN , May 05, 2017

The Micro, Small and Medium Enterprises (MSMEs) may need an Udyog Aadhaar to be eligible for supplying products to Public Sector Undertakings (PSUs), an official from the Union Ministry of MSMEs said.

The Udyog Aadhaar is already important for the MSMEs to apply for loans and to avail subsidies.

Addressing a workshop on MSME prosperity organized by FICCI and MEDAK Small Scale Entrepreneurs Association, J.N Mishra, Assistant Director of the MSME-Development Institute Hyderabad, urged the MSMEs to get the Udyog Aadhaar Number. Talking about the registration procedure, Mishra said that it is quite simple, and can be applied online.

Though it is not mandatory for units that were registered before September 18, 2015 .

The Government Data indicates that so far 30 Lakh MSMEs across the country have registered for the Aadhaar number.

In September 2015, the Union Ministry launched the Udyog Aadhaar with the objective of moving towards a national registration process to facilitate subsidies, provide incentives to achieve the larger goal of formalising the MSME sector in India. The Udyog Aadhaar replaced the older system of Entrepreneurs Memorandum I and II that the enterprises had to file.