U.P. government launches mega registration drive for MSMEs

The state government of India has launched a 15-day registration campaign for unregistered Micro, Small and Medium Enterprises (MSMEs) to receive benefits from state schemes. The campaign aims to cover 14 lakh unregistered MSMEs across all 75 districts.

The state government on Thursday launched a 15-day registration campaign for Micro, Small and Medium Entreprises (MSMEs) in all 75 districts across the state.

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The campaign aims at covering around 14 lakh such MSMEs that are not yet registered with the MSME Udyam portal, and providing them all the benefits of the schemes of the state government.

There are more than 90 lakh active MSMEs in the state, but only 14 lakh are registered, says the MSME and Export Promotion department of the state government.

A large number of active MSMEs need to be registered to avail benefits of all schemes of the state government as all these units contribute directly or indirectly to the state’s GDP.

The Directorate of Industries is organising these camps. The MSMEs themselves can also register by visiting the MSME Udyam portal.

As far as the eligibility criteria is concerned, in the micro-enterprise category those with an investment of up to ₹one crore and a turnover of up to ₹5 crore will be registered.

Under the small enterprise category, eligible enterprises must have an investment of up to ₹10 crore and a turnover of up to ₹50 crore. In the medium category, enterprises with an investment of up to ₹50 crore and a turnover of up to ₹250 crore can register.

There are many benefits of registration that include, free insurance coverage up to ₹five lakh under the accident insurance scheme which will be implemented soon.

Exemptions are provided in government procurement through Earnest Money Deposit and benefits in government tenders. Such enterprises can easily obtain loans from banks.

They can also conveniently pay pending dues through the facilitation council.