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 Next Phase of Transformation – I – Nomics” was published in November 2016 and was authored by Piya Mahtaney. In this text author put forward her reflections on current apprehensions that are appearing in the world economic prospects. In part 1 of the text, the author offers insights in the context of viewing the underpinnings of economic progress preceding two decades. And, in part 2 of the text author presents an exposition about the factors that are likely to drive structural transformation. The text concludes with the view that to accelerate growth we need a multi-pronged strategy of evolving new sources of growth and tapping the existing potential for innovation.