Usually yes — it's free, online, and carries real benefits. Udyam-registered businesses get protection under the MSMED Act's delayed payment provisions (buyers must pay within 45 days or owe compound interest), priority-sector lending access, collateral-free credit schemes, and various state incentives.
There's a flip side worth knowing: your customers who are companies must report dues to MSME vendors outstanding beyond 45 days in Form MSME-1, which gives your invoices genuine teeth — and occasionally makes very large customers negotiate terms carefully with registered vendors.
Registration is based on investment and turnover thresholds that cover the vast majority of startups and SMEs. If you qualify, take it.