It contributes significantly to the country's economic and social development by stimulating entrepreneurship and creating the second-highest number of job opportunities at low capital costs, after agriculture.
MSMEs serve as auxiliary units for bigger manufacturers, and the sector makes a substantial contribution to the country's inclusive industrial development. MSMEs are expanding into new sectors of the economy, creating a diverse range of goods and services to meet domestic and international demand.
On May 9, 2007, The Ministries of Agriculture and Rural Industries amalgamated to become the Ministry of Micro, Small, and Medium Enterprises.The Ministry promotes policies, services, initiatives, and programmes, and monitors their implementation, in order to aid MSMEs and help them scale.
In 2006, the Micro, Small and Medium Enterprises Development (MSMED) Act was passed to address a number of difficulties in the field, including MSMEs, coverage, and investment caps. The MSMED Act is intended to help these businesses grow while also improving their competitiveness.
The promotion and growth of MSMEs is essentially the responsibility of state governments. On the other hand, the Indian government supports state-level efforts through a variety of programmes. The MSME Ministry and its agencies are responsible for aiding states in their efforts to promote entrepreneurship, job development, and livelihood opportunities, as well as improve MSMEs' competitiveness
Anyone who wants to start a micro, small, or medium business can complete a self-declaration Udyam Registration through the Udyam Registration Portal.
We are private consultants who help startups, entrepreneurs, and businesspeople avoid the time-consuming government registration process by registering with the government through various government mechanisms such as MSME/Udyam registration. Our crew is well-versed in and has a lot of expertise with similar initiatives.