Self Help Group (SHG) is a small group of people ranging from 10 to 20 who come together with an objective of solving their common socio-economic problems through regular savings and having access to credit which in turn leads to the generation of livelihood and guarantee certain degree of self-sufficiency among the members. SHGs have been emerged as a powerful instrument to eliminate poverty and for the empowerment of women by providing financial services to the poor and further improving their status in the society. Entrepreneurship development and income generating activities are a feasible solution for empowering women. SHGs are novel and innovative organizational setup in India for the women upliftment and welfare. SHGs have a role in hastening country's economic development and now evolved as movement. In India, SHGs are formed and promoted under National Rural Livelihood Mission (NRLM). Maharashtra State Rural Livelihood Mission (MSRLM) is state unit of National Rural Livelihood Mission (NRLM) with a focus on social mobilization by formation of Self Help Groups (SHG) considering it the vehicle to bring the development. The study was conducted with an objective to assess the SHGs in Maharashtra as a tool for entrepreneurship development in fisheries sector. Secondary information from official website and annual reports of Maharashtra State Rural Livelihood Mission (MSRLM) was collected and analysed. The information was also cross checked by telephonic conversation with MSRLM officials. The study area was Gadchiroli, Chandrapur, Gondia and Yavatmal districts of Maharashtra, as majority of fisheries related activities are carried out by SHGs in these districts. Interventions in fisheries sector include fingerling production, IMC farming, Pungassius farming and Value added fish products preparation and marketing. Government of Maharashtra helps these SHGs by providing inputs such as seed money for fingerling production, seed and feed for fish farming, raw material, other ingredients and machineries for preparation of value added fish products. The expenditure incurred for above mentioned activities, is returned back to the government after revenue generation from the intervened ventures. It was revealed that there are 33 SHGs (350 members) engaged in fingerling production, 84 SHGs (920 members) in fish farming (IMC and Pungassius) and 30 SHGs (334 members) have taken up activity of preparation of value added fish products. The annual approximate revenue generated from fingerling production is Rs. 2.0 Lakhs per SHG, Rs. 4.0 Lakhs from fish farming for each SHG and Rs. 3.60 Lakhs per SHG from value added fish products. Fisheries interventions in the study area have resulted in the improvement of financial condition of SHG members, which further facilitated the improvement in various socio-economic fronts. Major constraints faced by the SHGs includes patriarchal pattern of the society which is apprehensive of women participation in economic activities, lower educational level, lack of prior experience in fisheries. The study also revealed that the process of setting up their own enterprise has resulted in development of various entrepreneurial skills, helping them to gain higher access and control over the production and marketing systems in fisheries.