Vol. 1, Issue 3, Part C (2015)

Abstract
Countries all over the world have opted for western economic thought and rapid industrialization for development. However, this policy gave birth to many socio -economic problems such as unemployment, exploitation of labour, overuse of resources, pollution etc. Hence, a need arises for the change in policy and asserts the need for an indigenous model catering the needs of the local people. In India, Kautilya and Gandhi were two great scholars whose economic thoughts still hold relevance. The paper makes an attempt to analyze the economic thoughts of Kautilya and Gandhi and bring out their relevance for the modern Indian economy and society.