Micro, Small, and Medium Enterprises (MSMEs) in India have been a major contributor to the socio-economic development of their country, contributing 18.5% to its 2019 to 2020 Gross Domestic Product (GDP). The sector has also contributed immensely to entrepreneurship development, especially in the semi-urban and rural areas of India. However, the global pandemic has affected every sector in the world indiscriminately, albeit in varying degrees, and MSMEs have proven to be more vulnerable to income and asset losses than larger firms.