The Forum of Free Enterprise was a non-political organization founded in 1956 by A.D Shroff and was established to educate public opinion in India on free enterprise and a democratic way of life. The Forum published booklets to further its objects. The following booklet titled, “Foreign Exchange Crisis – The Way Out” was published on February 5, 1962, and was authored by the founder, A D Shroff, along with R V Murthy and Dr. Lanka Sundaram. The authors claim that the foreign exchange crisis that India faced from the 1960s was a direct consequence of the five year plans. They trace the other factors and causes underlying the build up of this crisis, by tracing India’s experience with foreign trade and aid since Independence. A statistical analysis of India’s deteriorating balance of payments is undertaken to illustrate the severity of the problem at hand. Dr. Sundaram adds the economic policy approach to the paper, examining the fallacies inherent in some of the decisions that previous governments made.