Micro, Small and Medium Enterprises constitute the backbone of an economy in maintaining an appreciable growth rate and in generating employment opportunities. In developing countries, Micro, Small and Medium Enterprises (MSMEs) form a large portion of industrial composition. Especially in India, post-independence era, MSMEs have been a dominant force by means of their contribution to income and employment generation abreast problems of disparities. Despite an intricate policy framework, their progress is hampered by few basic constraints for instance finance accessibility, lack of technical know-how and skilled manpower, The purpose of this paper is to study various challenges faced by Micro, Small and Medium sized enterprises (MSMEs) in India. As far as Indian economy is concern, the MSME sector plays a very significant role in employment generation and in industrial production