Abstract: MSME (Micro, Small and Medium Enterprises) are the heart of Indian Industry. Their contribution especially to a developing country like India is very valuable. They not only contribute in generating employment but also encourage low skilled level workers to start as entrepreneur level in rural areas. As data given by Economic Times in June 2013, they employ close to 40% of India's workforce. Their main boost is given to Indian Manufacturing industry which is around 45% and export oriented units which are close to 40%. The MSME sector in India is highly heterogeneous in terms of the size of the enterprises, variety of products and services, and levels of technology.