The Forum of Free Enterprise is a non-political organization founded in 1956 by A. D. Shroff and has been established to educate public opinion in India on free enterprise and a democratic way of life. The Forum publishes booklets to further its objects. The following booklet titled “Making Capital Out of Consumer Goods” was published on December 15, 1989, and was authored by Abid Hussain. The author starts off by stating that India has come a long way from a closed inward-looking economy to one which is being given a different shape by providing a greater role to foreign trade and global competition. He argues that the Indian industry has to become world-class in quality, productivity, cost and technology. It has to be able to withstand the rigours of global competition, both in the country and outside. Given the changed context, he calls for industrial restructuring to reshape the industrial landscape. He suggests that the turnaround of public enterprises is essential if the Indian industry is to be made globally competitive. He further argues that a strategic shift is needed in our thinking, a shift from a fixation with protecting the producer to a concern for satisfying the needs and wants of Indian consumers. Moreover, a shift is required from overriding preoccupation with capital goods to an increasing role for manufactured consumer goods. The author goes on to address hurdles that have been impeding the promotion of consumer goods in India and suggests likely steps to overcome them.