Evolving Policies Drive Innovation in the North Eastern Region
Introduction
The North Eastern Region (NE) has been governed by policies aimed at fostering growth in Micro, Small, and Medium Enterprises (MSMEs) and nurturing startups. These policies are designed to create opportunities for businesses while addressing regional challenges. In January 2023, the government launched Udyam Registration Portal (URP), an official platform for registering formal MSMEs. To allow informal EMEs into this category, a Udyam Assist Platform (UAP) was introduced in January 2023.
Investment/Turnover Criteria for Micro, Small, and Medium Enterprises
The NE government adopted a revised definition of MSMEs based on investment and turnover criteria, effective from July 1, 2020. This redefinition ensures that businesses meet the necessary standards to be recognized as such. The number of registered units over specific periods highlights the dynamic growth in the region.
Udyam Registration Portal (URP) and Udyam Assist Platform (UAP)
URP serves as an official registration platform for formal MSMEs, while UAP is a tool to allow informal EMEs into this category. These initiatives have significantly enhanced business registration and accessibility, especially during the 2023 campaign period.
Recognized Startups under Startup India Initiative
In 2016, the Startup India Initiative was launched by the Ministry of Promotion of Industry and Internal Trade (DPIIT). By January 2025, NE had 2109 recognized startups. This initiative has supported various stages of business growth, including seed funding schemes and ecosystem initiatives to foster collaboration among stakeholders.
Government Schemes Supporting Startups
The government has introduced schemes like FFS (Fund of Funds for Startups), SISFS (Startup India Seed Fund Scheme), and CGSS (Credit Guarantee Scheme for Startups). These support startups at different stages, from early stages through scaling up and final exits. Public procurement support initiatives have also been part of the region’s efforts to enhance business development.
Conclusion
NE’s policies on MSMEs and startups are fostering innovation and growth across various sectors. The introduction of URP, UAP, and the Startup India Initiative has enhanced accessibility and entrepreneurship in the region. Despite challenges, ongoing government initiatives aim to address them while capitalizing on regional opportunities.