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 “Indian Industry in the 1990s- Challenges Ahead” was published on May 15, 1989, and was authored by Abid Hussain. The author makes a strong case for the need for industrial reform driven by technology and enterprise. He begins by appreciating the newly initiated process of making the Indian industry internationally competitive. He argues that the Indian industry has to become world-class in quality, productivity, cost and technology. It has to be able to withstand the rigours of global competition both in the country and outside. According to him, being self-reliant and becoming world-class are not mutually exclusive. He opines that technological change and innovation has to become the engine of growth in the Indian industrial economy. Hussain also highlights the significance of intense internal competition in the domestic market to achieve technological advancement. He makes a strong case against the inefficient practices and consequent losses of the public sector industries. Furthermore, he argues that liberalisation is not inimical to the objectives of true socialism, as opposed to the sham socialism practiced in this country. According to him, socialism should not be perceived only in the narrow framework of change in production relations. He concludes by stressing on the need for strong political will and a change in attitude to build a new and modern India based on a sound industrial strategy.