The Story of Indian MSMEs: Despair to Dawn of Hope unfolds the journey of the Micro, Small and Medium Enterprises (MSME) sector, both in the policy front and implementation. Taking a distinct approach, the author emphatically states that people start enterprises and put their only dwelling house or other as collateral security, with the aim of earning profit and making a respectable living in society. This book particularly concentrates on the manufacturing micro and small enterprises and not the entire MSME sector. This book gives a detailed picture of how MSMEs are defined both in India and other countries. It advocates for the twin criteria of turnover and employment with specific thresholds for two reasons. First, the turnover definition enables several unorganised enterprises in the sector to come into the fold of organised. Second, it paves the way for increased direct and indirect employment opportunities. Strength of the book lies in the case studies that unfold best practices that MSMEs can follow and the failures from which they can learn lessons. The book offers practical solutions to many issues confronting the policymakers, entrepreneurs and regulators.