The significance of Micro and Small & Medium Enterprises (MSMEs), or the Emerging Business Enterprises (EBEs) as they are now termed, to India’s economic growth and prosperity is well established.  They provide the critical depth-of-field to the industrial and service sectors, foster entrepreneurship and innovation, and generate very substantial employment.  EBEs accounts for over 40 per cent of the total manufacturing output, and 35 per cent of the country’s exports.