Globally, Micro and small enterprises have been accepted as the engine of economic growth. In Indian economy, the sector (MSME) consisting of 3.15 million units provide employment to over 73.22 million persons. Inaddition, the sector contributes significantly to the manufacturing output, employment, exports and GDP of the country. They also play a key role in the development spirit. Small and medium enterprises play a vital role in propelling the Indian economy. It is time they were provided with a suitably encouraging environment for growth, not just for local growth, but to take India?s growth futher in the global arena. In the sixty-five year of freedom, India?s economy has seen roller- coaster changes from an environment of free enterprise to a closely controlled regime of centralized planning. From an open-door policy to an atmosphere market by xenophobia and a penchant for self-reliance. Now, things have come full circle. The book has been divided into Six Sections. Section I deals with General Management aspects relating to small-scale industry. Section II gives a detailed account of production and related issues of small-scale industry. Section III touches upon financial management in all its facets. Section IV dwells upon marketing the products of small-scale industries Section V discusses the various concessions, reliefs and incentives offered to small-scale industry by the Central Government, States and other institutions, including voluntary agencies and Section VI look at the outlook for SME?s.