New Delhi, 3 Dec (KNN) The Central Government had launched the Udyam registration portal on 1st July, 2020 to accelerate ease of doing business for MSMEs.

It had crossed 50 lakh registrations in nearly 15 months, stamping on a the values of digital inclusivity.

Regardless of the benefits and advantages it offers to the MSMEs, this initiative hasn’t garnered a response it anticipated.

Amarendu Nandy, Assistant Professor at IIM Ranchi in his opinion piece for Financial Express wrote about a similar perspective along with co-author Aayush Anand student at the management institute.

“They key issue leading to poor response might be the fear of excessive scrutiny of business operations by government agencies and related rise in compliance costs for the enterprises,” opined Nandy and Anand.
To tackle this issue, government should allay such concerns by creating robust monitoring systems that can arrest undue harassment of small traders on account of unauthorised access and abuse of user information, they suggested.

Creating additional incentives for the onboarding process and greater awareness about the process and benefits of Udyam registration will help in encouraging response from the sector, said Nandy and Anand.
They also pointed out how there is no dedicated official apps for Udyam registration given the easy access to usage of mobile apps.

Hence the registration should be shifted to a app-based process, both suggested.