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 “Recession in Indian Industry – Causes, Consequences and Prospects”. The booklet is republished from D. R. Pendse’s two different articles, discussing first, the causes and the consequences of the recessionary trends observed by him at that point and second, some of the frequently asked questions with regards to recession. The writer has provided certain conclusive comments, which might be time specific, but definitely something can be extracted from the past wisdom.