2.Why are MSMEs important for India?
MSMEs contribute significantly to India’s GDP, employment, exports, and industrial output.
3.What are the categories of MSMEs?
- Micro: Investment ≤ ₹1 Cr, Turnover ≤ ₹5 Cr
- Small: Investment ≤ ₹10 Cr, Turnover ≤ ₹50 Cr
- Medium: Investment ≤ ₹50 Cr, Turnover ≤ ₹250 Cr
4.What is Udyam Registration?
It's the government registration for MSMEs that provides a unique identification number and certification.
5.Is Udyam Registration mandatory?
No, but it's highly recommended to avail government schemes and benefits.
6.Who can register as an MSME?
Sole proprietors, partnership firms, LLPs, private/public limited companies, etc.
7.Is there a registration fee for Udyam?
No, registration on the Udyam portal is completely free.
8.What documents are needed for Udyam registration?
Only Aadhaar number is required. PAN and GST details are fetched automatically.
9.How long is the MSME certificate valid?
It remains valid as long as the enterprise continues to meet the classification criteria.
10.Can an existing business register as MSME?
Yes, both new and existing businesses can register.