Over 7.83 crore enterprises registered on Udyam platforms, indicating strong MSME formalisation growth
- Press Information Bureau
- April 1, 2026
India’s MSME formalisation drive continues to gather momentum, with over 7.83 crore enterprises registered on the Udyam Registration Portal (URP) and Udyam Assist Platform (UAP), as reported by the Ministry of Micro, Small and Medium Enterprises till February 28, 2026. The latest numbers show an upward trajectory of MSME registration, which started increasing significantly after the revised criteria of classifying MSMEs based on investment and turnover were introduced in July 2020. The number of registered MSMEs has risen significantly from 0.79 crore in FY22 to 7.83 crore as of FY26 (up to February), indicating the formalisation of MSMEs in India and their increasing registration numbers in the manufacturing, services, and trading sectors of the economy. The formalisation of MSMEs is crucial in providing support and ease of doing business in India, especially in rural and urban areas of the country.
The Government has also complemented this growth with various schemes and budget-based measures to boost competitiveness and access to finance. These initiatives include the Prime Minister’s Employment Generation Programme (PMEGP), Credit Guarantee Scheme for Micro and Small Enterprises, PM Vishwakarma, and technology-based initiatives such as MSME Champions, MSME Sustainable (ZED), TEAM, and circular economy initiatives. In addition, in the Union Budget 2026-27, further initiatives have been announced to enhance access to credit for registered MSMEs. These include mandatory TReDS settlement for CPSE purchases, CGTMSE-backed invoice discounting, GeM-TReDS integration, and securitization of TReDS receivables. These initiatives are expected to further deepen formal credit penetration, ease working capital constraints, and support the next leg of MSME growth in manufacturing and exports.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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