This tract deals with the relationship between the Indian economy, and the global economy now substaintially under capitalist control. The global economy has been undergoing some major changes from the 1980s, and since the introduction of the reform measures in July 1991, Indian economy is being increasingly linked to it. This linking is frequently referred to as liberalisation and the globalisation of the Indian Economy. It is the nature and implications of that connection that is critically examined in this tract.