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Synopsis This volume, written by a number of leading Indian and Hungarian scholars, seeks to present a comprehensive account of the Indian and Hungarian policies of liberalization and economic restructuring. The major focus of analysis is the contemporary period, and the current policies of liberalization which seek to integrate their economies into the globalization process. The contributors provide a useful reflections not only on the past policies, but also on the current situation and future prospects. The book is divided into two sections. The first section deals with the Indian Hungarian scenario. However, in both cases, the contributors – note the obvious fact that while the state is retreating, the markets are required to play dominant role in economic restructuring. How are the markets actually performing? This question has been examined at length by some contributors. The contributors believe that globalization is a major component of the new policies C.P. Bhambri and Attila Agh examine the political implications of the New economic political implications of the New economic policies. Imre Levai explores the field of economic and trade relations between Hungary and developing countries after the economic restructuring. The book is bound to be a great value to both experts and to any one who has a serious interest in the future economic development of India as well as Hungary.