Micro, Small and Medium Enterprises (MSMEs) are enterprises classified on the basis of their investment in plant and machinery or equipment and annual turnover. They represent a significant segment of the industrial and service sectors and play an important role in promoting entrepreneurship, employment generation, and balanced economic growth. Micro Enterprises are the smallest category of enterprises with limited investment and turnover. They are generally operated by individual entrepreneurs or small groups with fewer resources and a small-scale production capacity. Small Enterprises have a higher level of investment and turnover compared to micro enterprises and usually employ more workers with better production facilities. Medium Enterprises are larger than micro and small enterprises and have comparatively higher investment, technology, production capacity, and organizational structure while still remaining smaller than large-scale industries. MSMEs possess several special features that enable them to contribute significantly to the economic development of a country. One of the most important features of MSMEs is their ability to generate employment opportunities. They are labour-intensive in nature and require relatively less capital investment compared to large industries. Therefore, they can create more jobs, especially for semi-skilled and unskilled workers, helping to reduce unemployment and improve living standards. Another important feature of MSMEs is their contribution to entrepreneurship development. They provide opportunities for individuals to start their own businesses with limited resources. By encouraging innovation, self-employment, and risk-taking ability, MSMEs help in developing a strong entrepreneurial culture within the economy. MSMEs require lower capital investment and can be established easily