This study aims to provide an assessment of the Micro, Small and Medium Enterprises (MSME) sector in India. MSME sector is the engine of growth in India and contributes significantly to balanced regional development and socio-economic empowerment, scaling up of manufacturing capabilities and employment generation. One of the critical indicators to assess the successful development of MSME Sector in an economy is the data on opening of new MSMEs; it depicts the conducive environment for opening and growth of such units in an economy as well as show the high morale of entrepreneurs in the macroeconomics of the economy. It is the biggest employer after agriculture in the Country. MSMEs are the main vehicles for job creation.