The main objective of the study is to estimate the performance and contribution of micro, small, and medium enterprises to the economy. Secondary data has been collected for the analysis to find results. The data has been presented in the form of tables and charts and qualitatively analyzed. The outcome of the analysis established that the MSME sector helps as a catalyst for the constant distribution of growth and prosperity in the nation. In the present study, economic development is analyzed through employment growth, export promotion, and standard of living. Gross domestic product (GDP) has been regarded as a determinant of living standards. The percentage method has been used to analyze the results of the study.