Udyam’s Role in the Digital Transformation of MSMEs

The online portal helps to access a variety of digital resources and services, and access schemes, benefits that support digital transformation. Read now

Micro, Small and Medium Enterprises (MSMEs) play a vital role in the Indian economy. They contribute about 30% of the country’s GDP and employ over 120 crore people. However, they often face challenges in adopting digital technologies due to a lack of awareness, resources, and skills.

The Udyam portal, launched by the Government of India in 2020, is a one-stop platform for these businesses to register their businesses, access information and services, and avail of government schemes and benefits. The portal also plays a significant role in the digital transformation of businesses by providing them with access to a range of digital tools and resources.

Benefits of Digital Transformation for MSMEs

Digital transformation can help in a number of ways, including:

• Increased efficiency and productivity: Digital technologies can help to automate tasks, streamline processes, and improve their overall efficiency and productivity.
• Reduced costs: Digital technologies can help to reduce costs in areas such as marketing, operations, and administration.
• Improved customer service: Digital technologies can help to improve their customer service by providing customers with more convenient and efficient ways to interact with the business.
• Expanded market reach: Digital technologies can help to reach a wider customer base by enabling them to sell their products and services online.

Udyam’s Role in the Digital Transformation of MSMEs

The Udyam portal provides them with a variety of digital services to help them in their digital transformation journey. These services include:

• Digital registration and certification: The portal allows users to register their businesses online and obtain a Udyam Registration Certificate (URC) within minutes. The URC is a digital certificate that can be used to avail of government schemes and benefits
• Access to government schemes and benefits: The portal provides easy access to a variety of government schemes and benefits, including financial assistance, tax breaks, and skill development programs
• Digital marketplace: The portal hosts a digital marketplace where one can sell their products and services to a global audience
• Training and capacity building: The portal provides access to a range of training and capacity building programs on digital technologies.

The Udyam portal has played a significant role in accelerating the digital transformation of small scale businesses in India. Since its launch, over 6.5 crore MSMEs have registered on the portal and over 1 crore of them have availed of the digital services offered by the portal.

How MSMEs Can Benefit From Udyam’s Digital Services

They can benefit from Udyam’s digital services in a number of ways, including:

• Registering their businesses online and obtaining a URC: The Udyam portal makes it easy to register their businesses online and obtain a URC. The URC is a digital certificate that can be used to avail of government schemes and benefits.
• Accessing government schemes and benefits: The Udyam portal provides easy access to a variety of government schemes and benefits, including financial assistance, tax breaks, and skill development programs. One can use the portal to search for relevant schemes and benefits, apply for them online, and track their status
• Selling their products and services online: The Udyam portal hosts a digital marketplace where one can sell their products and services to a global audience. They can create a free online store on the portal and start selling their products and services immediately
• Getting training on digital technologies: The Udyam portal provides access to a range of training and capacity building programs on digital technologies. One can use these programs to learn about digital technologies and how to use them to improve their businesses.

Conclusion

The Udyam portal is a valuable resource in their digital transformation journey. The portal provides a variety of digital services to help them improve their efficiency, productivity, customer service, and market reach. One can benefit from these services by registering on the portal and creating a Udyam account. Get in touch with Vakilsearch experts to know more about Udyam/MSME registration.

FAQs

What is Udyam?

Udyam is a one-stop digital platform for MSMEs to register their businesses, access government schemes and services, and connect with potential buyers and suppliers.

What are the benefits of using Udyam?

Udyam can help MSMEs to: 1. Formalize their businesses and make it easier to access government schemes and services.

2. Connect with potential buyers and suppliers from all over India and the world.

3. Access a variety of digital tools and resources to improve their efficiency, productivity, and reach.

How can I register on Udyam?

To register on Udyam, businesses need to provide basic information about their businesses, such as the name of the business, the type of business, the address of the business, and the number of employees. Once registered, they can access all of the features and benefits of the platform.

Where can I get more information about Udyam?

You can visit the Udyam website or contact Udyam customer support for more information about the platform.