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Financial Express
- Feb 15

Nearly 5 lakh informal micro units formalised in a month via new Udyam Assist Platform: MSME Min

The new Udyam Assist Platform (UAP) launched by the MSME Ministry to formalise micro enterprises has turned 4.7 lakh informal micro enterprises (IMEs) into formal businesses in less than a month. Launched on January 11, 2023, with 8 lakh registered IMEs, the platform had an overall 12.7 lakh registered micro units as of February 9, 2023.

Sharing the data in the Lok Sabha, the minister of state in the MSME ministry Bhanu Pratap Singh Verma said the platform was launched “to bring IMEs under the formal ambit for availing the benefits under Priority Sector Lending.”

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