Govt simplifies registration process for MSMEs

The government has simplified the registration process for micro, small and medium enterprises and they will now only need to furnish PAN and Aadhaar to register, an official statement said on Tuesday. Announcing the measure, MSME minister Nitin Gadkari said that after getting registered, the MSME unit will be getting priority and finance.

He said there is a need to impart training to small units in fields of entrepreneurship and other related aspects. He also expressed hope that banks and non-banking finance companies will also provide full support to small businesses.

The minister "announced simplification of the process for registration of MSMEs. Now only PAN and Aadhaar will be required for registration of MSMEs," it said.