Empowerment of Women is the fastest emerging issue in the socio-economic outlets. Despite the empowerment has turned into making and looking at them as Successful Entrepreneurs in the process of development tragedy. In addition to this, the emergence of microfinance (micro-loans and micro-insurance) gives leverage to the tragic vehicle to lead sustainable economic development with gender justice, a high participation rate and a socioeconomic balance card. The constant promotion of entrepreneurship is treated as an engine that drives the economy not only swiftly but also maintains consistency. This is the premier force for almost all the developing countries involved in the globalization scenario. India has inevitably accepted the globalization process and kept its resources including human resources according to the requirements of Globe Village. It is very crucial in the case of women and socially depressed classes. Moreover, the frequent reports and policies have switched on to women empowerment and entrepreneurship as they represent more than 40% of the population and contribute the highest to the Gross Domestic Product (GDP). This paper gives a clear and lucid picture of the promotion of women entrepreneurship in India with both internal and external issues, positive and negative challenges and suitable policy issues and practices. The paper is purely based on secondary data. Apart from this, the scholar has analyzed and studied various reports, research papers and policy initiatives on women entrepreneurship, women empowerment, rural entrepreneurship, microfinance and rural development. Finally, this work ends with some issues and challenges in the promotion of women entrepreneurship in India and respective policy measures to hold women in the business uncertain development tragedy in the globalization scenario.