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 “Economic Development and Deregulation- The Role of industry” was published on November 14, 1990, and was authored by M.S. Patwardhan. The author begins by tracing India’s development journey in the first forty years of independence. Despite various achievements, he argues that many of India’s economic ills are caused by poor productivity in the use of scarce resources. He attributes the budgetary deficit, the low exchange reserves, inflation, worryingly high Rupee and foreign exchange debt and the relatively low economic growth rate to this phenomenon of low productivity. To remedy this, he recommends greater competition which is largely contingent on the progressive dismantling of Government controls. He further argues that as a pre-condition to a new policy regime, certain misconceptions need to be dispelled and changes in attitudes have to be brought about to ensure effective implementation based on. conviction and not a half-hearted and grudging exercise in so-called liberalisation. He calls for clarity of vision that is unclouded by discredited dogma, a pragmatic and result-oriented attitude and the political will to meet the major challenges facing our economy and polity by freeing the energies and entrepreneurship of our people.