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An attempt has been made in this chapter to present the importance of the topic in the light of review of literature and present the objectives, hypotheses and methodology of the study. Indian economy has undergone a substantial transformation after independence. Agriculture now accounts for less than one-third of the Gross Domestic Product and a wide range of modern industries and support services do exist. India faced many ups and downs after independence. After emergence of World Trade Organisation India adopted the policy of reform. Different sectors of economy have different experiences after economic reform measures, broadly- Liberalisation, Globalisation and Privatisation. However, a country like India, productive employment is central to poverty reduction strategy and to bring about economic equality in the society. But the results of unfettered operation of market forces are not always equitable, especially in India, where some groups are likely to be subjected to disadvantage as a result of globalization.