New Delhi, July 14 -- The Ministry of Micro, Small and Medium Enterprises (MSME) on Tuesday said the Udyam Registration Portal and the Udyam Assist Platform are bringing more businesses into the formal economy by improving access to government schemes and institutional finance and strengthening India's MSME ecosystem by making support more inclusive for entrepreneurs across the country.

The ministry said the two digital initiatives are playing a key role in formalising enterprises while helping small businesses gain easier access to credit, technology support, market opportunities and government procurement programmes.

According to the ministry, the Udyam Registration Portal provides MSMEs with an official identity through a simple, pap...