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CAIT to facilitate registration of 75 lakh traders on Udyam Portal to avail MSME benefits

Confederation of All India Traders (CAIT) has decided to support registration of 75 lakh traders on the Udyam Registration Portal to avail the benefits and schemes provided to micro, small and medium enterprises (MSMEs).

The trade body will start this initiative from 10th April through a national campaign in 75 cities of different states and will make attempts to register 75 lakh traders on the MSME registration portal.

CAIT National President BC Bhartia and Secretary General Praveen Khandelwal said that CAIT has identified 75 cities and 75 teams of trade leaders in association with local trade associations to begin the campaign.

“Traders registered with Udyam will be competent to obtain financial loans from the Banks under priority sector lending under lower rate of interest in comparison to interest charged on other loans,” said the trade leaders. 

They said that if traders across the country are registered under this scheme, they are eligible to get the benefits of many other facilities and relief schemes available to the MSME sector.

CAIT has tied up with various agencies which will help the traders in the registration process by charging a nominal fee.

Last week a delegation of CAIT led by Khandelwal met Commerce Minister Piyush Goyal and he advised the trade leaders to motivate more and more traders across the country for obtaining Udhyam Aadhar so that large chunk of traders could also be benefitted with Udhyam Aadhar scheme.

Previously traders were a part of MSME definition but in March 2017, they were taken out from the purview of MSME.

Since then the issue of inclusion of traders under MSME was raised and finally government decided to include traders under MSME category for the purpose priority sector lending and accordingly the Reserve Bank of India (RBI) issued an order on 7th July, 2021 including traders under MSME definition.