Micro, small, and medium enterprises (MSMEs) are recognized as vital for India's socio-economic development and its journey towards becoming a developed nation ('Viksit Bharat'). This sector significantly contributes to employment generation, exports, industrialization, and equitable income distribution. Globally, MSMEs represent about 90% of formal businesses and nearly 50% of employment, driving innovation, inclusive growth, and poverty reduction. They are also increasingly key in developing digital and green solutions.