What is UAM registration?

Updated on : 2020-Nov-23 16:08:42 | Author :

Content

 

  • Introduction

  • UAM- at a glance

  • The application process, benefits, and eligibility of UAM registration

  • What is the government’s vision behind bringing the UAM?

 

Introduction

 

UAM signifies a scheme called Udyog Aadhar Memorandum. It is a registration process of a single page. It is equivalent to the previous 11 forms protocol of MSME self-certification. It helps to prove the existence of the establishment and identity of the owner or promoter.

 

UAM- at a glance

It is almost similar to the unique Aadhaar details and the bank account information or other basic information that is represented as an identity of the Micro, Small, and Medium Enterprises, or MSME. The process of registration under UAM is online paperless methods. The applicants receive a unique Udyog Aadhaar Number or UAN. UAN can be used in all the applications under MSME schemes.

 

 

Significance

 

India possesses the largest number of MSMEs home in the world. About 95% of the total industrial units come from MSMEs. It comprises over more than 42.5 million industries. Though only 35% of these have come under registration. Many of the small industries cannot have the benefits of its lengthy process of registration. Because of these reasons, the registration process is being simplified via Udyog Aadhaar Memorandum or UAM. 

 

The application process, benefits, and eligibility of UAM registration

The application process of UAM registration

 

 

Benefits of registration under UAM

 

The main purpose of creating this UAM is to simplify access to governmental schemes. The Udyog Aadhaar Memorandum or UAM provides the following benefits-

 

  • The UAM process is not mandatory for all kinds of MSMEs.

  • UAM registration is a paperless online method.

  • UAM is easily attainable and can be applied from any place that does not matter.

  • It offers low subsidy facilities in interest rates.

  • UAM provides no collateral for any kind of industry that gets registered and qualified under the MSME.

  • UAM allows the applicants to get access to the other govt. subsidies.

  • UAM helps to classify the MSMEs and also provides information about different governmental schemes.

  • UAM provides financial support so that small enterprises can participate in international expos.

 

Eligibility

 

Udyog Aadhaar Memorandum or UAM can only be registered if it is qualified as MSME. The total cost value of that industry has to be less than 10 crores. The below-mentioned business elements are qualified to gain the UAM-

 

  • One Person Company or OPC

  • Proprietorship

  • Partnership farm

  • Hindu Undivided Family or HUF

  • Limited Liability Partnership or LLP

  • Private Limited or Limited company

  • Co-operative societies

  • Or any other person association

 

The documents required for the enrollment under UAM

 

The below-listed documents are necessary for the registration process under the UAM-

 

  • Aadhaar card of the applicant where the name, address, and the Aadhaar number are written.

  • If eligible then caste certificate that is general or OBC or ST or SC.

  • The details of the organization the consequent Ids where the name, type, and ownership details, etc are mentioned.

  • Other important data regarding the industry like employees, date of commencement, cost value, etc.

 

What is the government’s vision behind bringing the UAM?

Simplifying the registration process

 

Pursuing the small and micro industries in a proper legal way is one of the main objectives of the government. Before the registration process was very lengthy and complicated too. For this reason, the businessmen of our country used to flee from this process of registration. Now, one can easily register their business under Udyog Aadhaar Scheme.

 

Controlling unemployment

 

If the Government takes Initiatives to promote the small and micro-business sectors then people will also be going to have more interested in new business and startup plans. This way more people will get new opportunities and this process will take part directly in controlling the employment in our country.

 

Increasing Competitions in the market

 

Nowadays the government has opted for promoting the trade because it is very beneficial and profitable for our country. If there are more industries in our country the economy of our country will also boost up. This way our country will be financially strong than before. The industry makers will also try to evaluate and grow their business and automatically the competition will be turned on.

 

 

 

Additional resources

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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