MSMEs need benefits of registration? Here’s what it looks like

There are currently lakhs of businesses in the MSME sector, which is considered the backbone of the Indian economy, that may not want the government's incentives for Udyam-registered MSMEs. The Ministry of MSME drew the conclusion based on the available data. Let's have a look at this step-by-step:

According to the MSME Ministry's 2020-21 annual report, a total of 21,96,902 businesses registered for Entrepreneurs Memorandum (EM-II) between 2007 and 2015. There were 1,02,32,451 (1.02 crore) registrations between September 2015 and June 30, 2020, when the new online registration portal called Udyog Aadhaar Memorandum (UAM) was introduced and replaced by the current portal Udyam Registration. Otherwise, according to the 73rd wave of the National Sample Survey (NSS) performed by the National Sample Survey Office in 2015-16, India had 6.33 crore unincorporated MSMEs.

On July 2 of last year, former MSME Minister Nitin Gadkari issued new criteria for MSMEs, reinstating retail trade (street vendors were now allowed to register) and wholesale trade as MSME categories. On the Udyam portal, there were 5,33,404 retail and wholesale trade registrations as of November 29. MSME Minister Narayan Rane provided this information in the Lok Sabha in response to a question during the winter session.

As of December 31, 2021, the total number of registered users on the Udyam site was roughly 64.10 lakh, which includes both retail and wholesale trading. The percentage of new registrations, which might include entirely new MSMEs and/or previously unregistered MSMEs, as well as MSMEs moving from UAM or EM-II registrations on the Udyam platform, remained unknown.

According to the latest research 'India Laundry Services Market' produced by homegrown consulting firm RedSeer, India's laundry market is predicted to expand to $15 billion by 2025, up from $11.3 billion in 2019.

This laundry market includes both B2C and B2B segments, with B2C accounting for 88 percent of the market. Laundry operations such as washing and ironing garments are included in the B2C market, whether done at home or with the help of a laundry service provider (unorganised or organised). The B2B market, on the other hand, includes laundry activities such as washing and ironing bed sheets and towels, which are performed in-house or through outsourcing to a laundry service provider by enterprises in fields such as hospitality and healthcare (unorganized or organized).

Tushar Raul & Tejeswini Raul, the founders of German Laundry states–they identified the right market at Mumbai in 2010 when there was an absolute scarcity of premium laundry services. The team underwent training in Europe for laundry management and imported machinery from Germany and Italy. They developed in house washing techniques and solutions and developed the use of appropriate chemicals, detergents, dryers to suit Indian Conditions.

Spread at 14 locations in the city, including areas like Pali Hill, Mahim, Altamont Road, Walkeshwar, German Laundry, has seized the opportunity in the marketplace and build an entire pyramid of success around it.