India now has 4.5 crore registered MSMEs of which 98% are micro enterprises

The MSME Ministry's Udyam registration portal, launched in July 2020, has surpassed 4.5 crore registrations, with 98.1% being micro units, followed by small and medium enterprises. \r

Notably, this includes 1.86 crore micro enterprises outside the GST ambit, such as street vendors, registered via the Udyam Assist Platform. This marks a significant formalization of the economy, with 71% of unincorporated non-agricultural MSMEs now registered. \r

Previously, UAM and EM-II facilitated registration. Udyam registration offers various benefits, including access to government platforms like GeM, Samadhaan, and TReDS, credit guarantee schemes, and priority sector lending. However, wholesale and retail traders have limited benefits. \r

Registered MSMEs have reported over 19.5 crore jobs, with over 4.3 crore being women employees, as per the Udyam portal.