Liberalization is the free movement of different services across boundaries. This movement is managed in a combined and incorporated manner. This paper will test the impact of liberalization in India’s economy. Also, this paper will try to analyze the processes, pattern and characteristics of liberalization and its importance for any developing country. Moreover, it will try to observe the impact of economic and socially liberalization in the development process of Indian economy and positive and negative impact on Indian economy.

KEYWORDS: Liberalization, Economy, Impact, Under Developing Country, Indian Economy.