UDYAM registration, formerly known as MSME registration in India, is a government initiative aimed at promoting and supporting micro, small, and medium enterprises (MSMEs). The registration process allows eligible businesses to avail various benefits and incentives provided by the government to facilitate their growth and development. MSMEs play a crucial role in the Indian economy by fostering entrepreneurship, generating employment opportunities, and contributing to industrial output and exports. The registration process is simple and can be completed online through the UDYAM portal. Upon registration, MSMEs receive a unique UDYAM registration number, which is used for availing benefits such as priority sector lending, access to government schemes and subsidies, exemption from certain taxes, and preferential treatment in government procurement contracts. Compliance with the registration requirements ensures that MSMEs can leverage government support to overcome challenges and thrive in a competitive business environment.