WOMEN EMPOWERMENT THROUGH ENTREPRENEURSHIP DEVELOPMENT IN MICRO SMALL AND MEDIUM ENTERPRISES (MSMES) IN INDIA: AN EXPLORATORY STUDY Dr. Jainendra Kumar Verma * Abstract: The emergence of women entrepreneurs and their contribution to the national economy is quite visible in India. Women's entrepreneurship has been recognized during the last decade as an important untapped source of economic growth. According to of statistics women in India 2010, proportion of female main workers to total population in percentage is 16.65 in rural areas and 9.42 in urban areas this shows overall less contribution of women in work but more percentage of women workers in rural areas. According to the quick result of the Fourth All India Census of MSMEs (2006-07), there are 26 million MSMEs in India which provides employment to about 60 million people. The sector contributes about 40 % GDP, beside 45% to the total manufacturing output and 40 % to the exports from the country. There could be many opportunities identification hidden inside the challenges for small business concerns. This paper examines various opportunities and challenges for Women Entrepreneurship Development in Micro Small and Medium Enterprise. More precisely the paper explores, rewards for starting a small business, myths about small businesses, new opportunities, four forms of entrepreneurship, identification practices among first generation and major challenges in small business. Keywords: Empowerment, Micro Enterprise, Micro Credit, Rural Entrepreneurship, Self Help Groups, Women Entrepreneurs, Rural Development. * Dr. Jainendra Kumar Verma is D. Litt. Candidate at Ravenshaw University, Cuttack, Odisha, India.