Micro, Small and Medium Enterprises (‘MSME’) play a crucial role in a developing country like India. MSME industries are in fact the backbone of the economy as has been quoted by many economists. The MSME sector contributes to roughly 45% of India’s total industrial employment, approximately 50% of India’s total exports and almost 95% of all industrial units of the country and around 6000 types of products are manufactured in these industries. With the growth…