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Synopsis This book provides glimpses of the past, present and future of the Indian economy. It traces the evolution and explains the present structure of different sectors of the Indian economy. This work is important to understand the impact of new challenges thrown by the WTO regime. Although purportedly a democratic institution, the WTO is dominated by the industrialised countries of the world. Though developing countries make up three-fourth of WTO memership and by their vote can in theory influence the agenda and outcome of trade negotiations, they have hardly used this numerical superiority to their advantage. Most developing countries are, in one way or another, dependent on the US, EU, or Japan in terms of imports, exports, aid and security. Any obstruction of a consensus at the WTO threatens the overall well-being and security of dissenting developing nations. India is bracing fast to meet these challenges. The unshackling of the Indian economy, though slow, has to be seen in the context of the emerging world economic scenario.