The story
Coinciding with the launch of major policy and support initiatives of the Indian government to promote the growth and development of small scale industries in India, FISME was initially born as the National Alliance of Young Entrepreneurs (NAYE) in 1967 to provide an outreach and advocacy forum for small industries in particular and entrepreneurship in general. In the post-liberalisation era, NAYE along with eight state level associations formed FISME in 1995.
From Wikipedia’s article on FISME, shared under CC BY-SA 4.0.4