Industrial development has direct impact on overall economic development of a region or nation.  In the globalized era, it is essential for every nation to progress on par with other countries.  Owing to the globalization effect, Micro, Small, and Medium Enterprises (MSMEs) have been providing significant contribution to Gross Domestic Product (GDP), industrial production, and export value.  Beside agriculture, MSMEs have been regarded as largest employment provider for people of the nation.  Due to the nature of low capital cost, demand for ancillary units and support for large industries, the MSMEs were emerged as the most dynamic industries in India.              The MSMEs have become the life bone of the constant progress of the country.  In the present study, a critical evaluation is made to examine the impact of MSMEs on industrial development in erstwhile Chittoor District of Andhra Pradesh State in India. The district being the largest venue of MSMEs in the state has significantly contributed for the industrial development in terms of providing largest proportion of total enterprises operating in the state.  The study aims to study the significance of introduction of MSMED Act, 2006 on generation of investment and employment.  Further, the study presents the contribution of MSMEs to GVA.