Entrepreneurship has been an important instrument in development of societies in several ways. Micro, Small and Medium Enterprises (MSME) sector has emerged as a highly vibrant and dynamic sector of the Indian economy, providing large employment opportunities at comparatively lower capital cost than large industries but also help in industrialization of rural & backward areas. Khadi is the proud legacy of our national freedom movement and the Father of the nation. Khadi and Village Industries (KVI) are two national heritages of India. One of the most significant aspects of KVI in Indian economy is that it creates employment at a very low per capita investment. NABARD is set up as an apex Development Bank with a mandate for facilitating credit flow for promotion and development of agriculture, small scale industries, cottage and village industries, handicrafts and other rural crafts. North East-India is endowed with abundant natural resources which can promote a huge entrepreneurial development in the region. The NER region has tremendous potential for generating revenue from the primary, secondary, as well as the tertiary sectors. This study highlights the important factors which can enhance entrepreneurial growth and opportunities in the region. Also it examines about the contributions of development agencies/organizations in development of village industries. Keywords: Entrepreneurship opportunities, KVI, MSME, NABARD