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 is titled ‘The Changing Structure of Industrial Finance’ is  the second lecture delivered by Dr P.S. Lokanathan on the 2nd of April 1969 at the auspices of the A.D Shroff Memorial Trust in Bombay.

In this lecture, Dr Loknathan explains the growth of Industrial Finance Institutions pre and post-independence. The role of managing agents and promoters to provide initial finance needed by the industry. The three kinds of financial aid that the industry requires is initial capital, working capital and capital for expansion. The Industrial Finance institutions provide capital markets to large businesses through Investment Houses, the Stock Exchange, the New Issue Market and other financial institutions. This institution to some extent benefitted big industries in developed states however remained insufficient to uplift medium and small scale industry. In this discourse, he denounced heavy taxes and advocates for a sound fiscal policy that incentives the saver towards productive investment.