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 “Creating World Class Indian Multinationals” was published in October 1996, and was authored by Anand G. Mahindra. The author analyzes the possibility of creating Indian multinationals by busting certain myths and gives a realistic take on the issue. For instance, contrary to the popular assumption that India has abundant sources of industrial raw materials and enjoys the advantage of low-cost manpower Mahindra argues that these are merely transient sources of competitive advantage. His suggestions revolve around adapting to the new realities of the world order. Thinking globally for the acquisition of both technical and human resources and using globalization to instil the spirit of competition within the domestic players are some of the recommendations made by the author in this text.