Industrial Economics: Indian Empiricism analyses Indian industry in totality. It defines the basic concepts relevant to Indian industry, presents the distinguishing features of industrializing economies like India as compared to industrialized economies, reviews theoretical issues concerning economic and industrial development of national economies. The book traces the origin and evolution of India's industrial policy analyzes the emergence of controls & regulations, its positive achievements and negative fallouts on the industrial structure and performance of India prior to 1991. The book describes the "economic crisis" confronted by Indian economy in early 1991 and India's industrial reforms, which were initiated through the New Industrial Policy in July 1991. The subsequent industrial policy developments and its implications are analyzed in greater detail.

India's industrial structure has two major sub-sectors: organized and un-organized. The book analyzes how these two sub-sectors have undergone changes in their respective industrial compositions since independence. Thereafter, the structure and growth of organized industry is analyzed in terms of two major data sources: Annual Survey of Industries (ASI) and Index of Industrial Production (IIP). Foreign enterprises and small scale enterprises are the two major growing sub-sectors of Indian industry. How these two vital sub-sectors of Indian industry have grown and contributed to India's industrialization is another important issue covered in the book. Industrial sickness and its dimensions, Industrial location policy and regional industrialization, environmental policy and growth of pollution intensive industries, technology policy and R&D orientation of Indian industry are the other prominent features of this book. Thus, the book treats theory, policy and structural aspects in totality and therefore, imperative for all those who are keen to understand the complexities of issues pertaining to Indian industry. It is valuable to researchers, academicians and students of economics, commerce and management.