Guwahati: Northeast India is witnessing a steady increase in Udyam Registrations this year, with a significant number of Micro, Small, and Medium Enterprises (MSMEs) joining the formal sector.
According to a senior official from the Assam Industries Department, over 5,00,000 MSMEs have been registered in Assam alone since 2022. The official shared this information with Business North East, attributing the achievement to the concerted efforts of industry bodies like FINER and FICCI, along with field-level officials and media outlets.
The registration numbers across the northeastern states are as follows: Arunachal Pradesh with 14,200, Assam with 5,37,387, Meghalaya with 24,272, Mizoram with 24,596, Nagaland with 25,865, Sikkim with 11,445, and Tripura with 62,465.
When asked why the northeastern states have not ranked among the top 10 in Udyam registrations, the official explained, “The population in the Northeast is comparatively lower than in other states. A single state among the top performers could have a larger population than the entire northeastern region combined.”
A Chartered Accountant based in Guwahati highlighted additional challenges, stating, “There is a lack of awareness and education, coupled with access to finance and loan constraints. The cumbersome registration process has also contributed to the lower numbers.”
Despite these challenges, Udyam-registered businesses in the region are reaping several benefits, including waivers on stamp duty and registration charges, exemptions on interest rates, subsidies on overdrafts, patent fees, and trademarks, as well as exemptions under direct tax laws. These businesses also enjoy concessions on electricity bills, ISO certification expenses, and ease in obtaining licenses, registrations, and approvals, along with access to the Credit Linked Capital Subsidy Scheme.
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