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Federation of Indian Micro & Small and Medium Enterprises (FISME), though established in the year 1995, traces its origin to 1967 when the National Alliance of Young Entrepreneurs (NAYE) was established to promote small industries. In the pre _ liberalized era (prior to 1991), the agenda of an interventionist and highly protectionist India was adequately met by NAYE. However, post liberalization (after 1991), India needed to adopt a different approach for the promotion of Small and Medium Enterprises (SME). Subsequently, in the year 1995, NAYE along with eight state level associations formed FISME to lead SME in the refurbished economic environment.