This article focuses on the challenges and opportunities faced by Micro, Small, and Medium-sized Enterprises (MSMEs) in India, which make a significant contribution to employment generation, income growth, and poverty reduction, but unfortunately, they encounter various hindrances that limit their potential for growth. The goal is to identify and analyze these challenges, explore opportunities, and provide a roadmap for MSME success. Major challenges include limited access to finance, marketing and sales, technology adoption, lack of skilled manpower, regulatory compliance, and inadequate infrastructure, but MSMEs can overcome them by implementing recommendations such as accessing alternative financing options, developing a sustainable brand identity, improving technology adoption, attracting and retaining skilled manpower, simplifying regulatory compliance, and collaborating to share infrastructure. The government has implemented several initiatives to support MSMEs in India, such as the Udyam Registration Portal, favorable policies for MSME financing, financial assistance, tax benefits, and subsidies, but access to finance and credit remains a significant challenge. Strategies such as building a strong credit history and utilizing government schemes and subsidies can improve MSMEs' access. In conclusion, MSMEs can compete and grow in the market by addressing their challenges and capitalizing on available opportunities with government support.

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Keywords: MSMEs, India, Challenges, Opportunities, Finance, Government Initiatives, Growth.