The following booklet titled, “Rural Development Is Key To Welfare Of The Masses” was authored by J. H. Doshi, and is based on the Presidential Speech at the 21st Annual General Meeting of the Forum of Free Enterprise in Bombay on the 17th October 1977. This text is a critical analysis of India’s economic development, post-independence. It explores the previous economic policies adopted by India and illustrates how these policies held the economy back from reaching its full potential due to their negligent approach towards the development of rural areas and high-potential industries such as agricultural, dairy farming, etc. The author offers his insights into how the over-emphasis on the development of heavy industry and urban areas, coupled with strict government controls, procedural delays and the lack of entrepreneurial talent, lead to economic stagnation for the masses. The author concludes by offering his suggestions on enhancing and utilising the abundant resources offered by the rural areas and industries in order to expedite economic progress.