MSME (Micro, Small and Medium Enterprises) and UAM (Udyog Aadhaar Memorandum) are not the same thing, but they are connected.
Businesses in India are categorized as MSME based on their size and investment in plant, machinery, or equipment. The Government of India has altered the classification of MSMEs depending on their turnover, which is in force as of June 2021 and has been since July 1, 2020. According to the updated classification, small businesses are defined as having a turnover of up to INR 250 million, medium businesses as having a turnover of up to INR 1 billion. Microbusinesses are defined as having a revenue of up to INR 50 million.
On the other hand, MSMEs can register themselves with the Ministry of MSME via UAM, a one-page online registration form. Although UAM membership is optional, it offers registered MSMEs a number of advantages, including better access to loans, subsidies, and government programs.
So, whereas UAM is an online registration form used by MSMEs to register themselves with the Ministry of MSME, MSME is a classification of firms based on size and turnover.
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