Udyog Aadhaar is applicable for business entities to get funding and government support. It was launched in September 2015 by the Central Government to simplify the registration process for micro, small, and medium enterprises (MSMEs). The Udyog Aadhaar registration is aimed at extending several benefits to MSMEs, like: MSMEs get excise duty exemption and also other tax relief; a reduction in fee for registration of patents and trademarks; owners can get the benefits of government schemes including loans without guarantee, low-interest loans, and subsidies; financial help from the government for foreign trade; concessions in electricity bills; reimbursement of the ISO certification; and the process of availing licenses, approvals, and other registrations becomes easier. The Central Government launched the Udyam Registration Portal for MSMEs in July 2020, replacing the earlier Udyog Aadhaar.