Published Paper Details:

This article delves into the challenges and opportunities that Micro, Small, and Medium-sized Enterprises (MSMEs) in India face. These enterprises play a crucial role in creating jobs, boosting income, and reducing poverty. However, they encounter various obstacles that hinder their growth potential. The purpose of this article is to identify and analyse these challenges, explore potential opportunities, and outline a roadmap for the success of MSMEs. Key challenges include restricted access to finance, difficulties in marketing and sales, slow technology adoption, a shortage of skilled labour, complex regulatory requirements, and insufficient infrastructure. Despite these hurdles, MSMEs can thrive by adopting specific strategies such as seeking alternative financing sources, building a strong brand identity, enhancing technology use, attracting and retaining talent, streamlining regulatory processes, and collaborating on infrastructure development. The Indian government has introduced several initiatives to support MSMEs, including the Udyam Registration Portal, policies that favour MSME financing, financial assistance programs, tax incentives, and subsidies. Nevertheless, access to finance and credit remains a significant challenge for many MSMEs. By building a solid credit history and leveraging government schemes and subsidies, MSMEs can improve their financial access.