For micro, small and medium enterprises, Udyog Aadhaar will hold considerable significance going forward with access to various services and benefits likely to be linked to the registration number.
Besides, for bank loans and availing subsidies, the unique identity number may also be insisted upon by those procuring products from such enterprises, especially buyers from the public sector fold.
Hinting at such a scenario, an official of the Union Ministry of Micro, Small and Medium Enterprises on Wednesday urged the enterprises to obtain the Udyog Aadhaar number.
The process of registration is simple and has to be done online, Assistant Director of the MSME-Development Institute J.N.Mishra said.
Workshop
He was addressing a workshop on ‘MSME prosperity - opportunities and vendor development’, organised here on Wednesday by industry body FICCI and the Medak Small Scale Entrepreneurs Association.
The Union Ministry launched Udyog Aadhaar in September 2015 and with it replaced the earlier system of Entrepreneurs Memorandum I and II that the enterprises needed to file.
Not mandatory
It, however, is not mandatory for units registered prior to September 18, 2015.
A little over 30 lakh enterprises across the country have obtained Udyog Aadhaar number, as per the Ministry.
In Telangana, a total of 81,923 have registered under Udyog Aadhaar.
National registration
The objective behind graduating to a national registration process is to improve the ease of doing business and promoting formalisation of the MSME sector.
It is also expected to help shape data driven policy support.
