The Micro, Small, and Medium-Sized Enterprises (MSMEs) in India are a major contributor to the growth of the Indian economy. These MSMEs not only increase employment opportunities but also help industrialize rural areas while reducing economic disparity within the community. MSMEs significantly contribute to the expansion of the Indian economy through technology-oriented firms, low investment requirements, flexible operations, export output, and domestic production, among other factors. Compared to the industrial sector as a whole, the MSME sector has continuously had stronger growth rates. Since raw materials are scarce, entrepreneurship skills are not developed, and local authorities at the district, state, and federal levels are not providing financial or technical support, the distribution of MSME's in India is unequal.

The primary challenges faced by MSME's include the absence of timely and appropriate financing facilities, exorbitant loan costs, outdated technology, a dearth of research and innovations, inadequate training and skill development, and intricate labor laws. All the same, there are many of chances for MSME development. Additionally, foreign investment and technology can be drawn to the MSME sector. As MSME development continues, employment opportunities increase.

This Study aims to provide readers with an understanding of the development and significance of Micro, Small, and Medium-Sized Enterprises (MSMEs) in India and the Growth of the Country. This post has also covered the several issues that these MSMEs deal with when running their businesses. This Research paper also aims to provide the recent developments in the MSME Sector.