According to government data, nearly 3,679 small businesses and 28,684 micro enterprises registered on the Udyam portal have grown into medium and small-sized businesses respectively since its inception so far. Bhanu Pratap Singh Verma, Minister of State for MSME Ministry had shared the data during the ongoing budget session in Lok Sabha.
Udhyam portal was launched as the government had revised the MEME definition in June 2020. Under the MSME definition, around 1.02 crore MSMEs have registered with Udyog Aadhaar Memorandum till June 2020. The definition was revised by the centre with an aim to get more businesses to benefit from the schemes and initiatives offered by the government to MSMEs.
Businesses up to Rs 1 crore investment and Rs 5 crore turnover fell under micro-segment. Similarly, investments less than Rs 10 crore and turnover of Rs 50 crore were categorized under small businesses. The investment limit for medium enterprises was expanded from less than Rs 10 crore to less than Rs 50 crore along with up to Rs 250 crore turnover.
