MSME

Micro, Small and Medium Enterprises. It is governed by the Ministry of Micro, Small and Medium Enterprises. It is the apex executive body for the formulation and administration of rules, regulations and laws relating to micro, small and medium enterprises in India.

An enterprise shall be classified as a micro, small or medium enterprise on the basis of the following criteria, namely: —

• A micro enterprise, where the investment in plant and machinery or equipment does not exceed one crore rupees and turnover does not exceed five crore rupees;
• A small enterprise, where the investment in plant and machinery or equipment does not exceed ten crore rupees and turnover does not exceed fifty crore rupees; an
• A medium enterprise, where the investment in plant and machinery or equipment does not exceed fifty crore rupees and turnover does not exceed two hundred and fifty crore rupees.

The government has organized a complete system to facilitate the registration process The company for the purposes of this process is called Udyam and its registration process is called “Udyam Registration”. After registration, a permanent registration number is assigned. Once completed the registration process, certificate will is issued online. This certificate contains a dynamic QR code to access the webpage on the portal and details about the company. Renewal is not required. The registration process is completely free. There are no costs or fees to pay to anyone.