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 “Education, Leadership, and Vision of Free India” was published on February 20, 1998, and was authored by Nani A. Palkhivala. This booklet consists of the textual representation of the acceptance speech by Mr. Palkhivala, when the Dadabhai Naoroji Award for 1997 was conferred on him on 12th August 1997 and the response by Mr. Palkhivala to the University of Mumbai’s Special Convocation for conferment of Honorary Degree of Doctor of Laws (LL.D.) on 19th January 1998. The author talks about Dadabhai Naoroji’s vision of a free India and his contribution to society. The author stresses the importance of institutions, particularly educational institutions to generate excellence and in nation-building. The author concludes with the view that India has failed to impart value-based education to its youth and to face various challenges it has become necessary to have moral leadership at all levels.