ASMI, which means "pride, self respect and hard work", was first showcased in January 2021, and developed over the course of four months by Lieutenant Colonel Prasad Bansod,[9] who had previous experience reverse engineering an INSAS rifle to produce a bullpup carbine variant.

[11] Unlike its predecessor, the Modern Sub Machine Carbine, the ASMI is chambered in 9×19mm Parabellum,[11] a cartridge already in use in the Indian Army, giving it a major logistical advantage over the MSMC, whose round was purpose built for the design.

Similar to the Uzi, the Asmi is a straight blowback submachine gun with a side-folding stock, a low rate of fire, and its magazine is loaded inside of the pistol grip.

Typical for a submachine gun, its main application is for close-quarters combat, where it can be used by heavy weapon detachments, tank and aircraft crews, drivers, and radio or radar operators.

In April 2024, Lokesh Machines has emerged as the L1 contender, beating the likes of PLR Systems and Jindal Defence, to clinch a contract to supply 550 9×19mm ASMI Submachine Pistols to the Para (Special Forces) of the Indian Army.