India has recorded steady growth despite domestic and global challenges, including, once in a century pandemic COVID-19 followed by an oil price shock. Many of the ideas that have motivated Indian policy makers are also gaining acceptance in the developed countries and across the World. India’s indigenous development strategy has not been static, but has evolved & developed with experience and changing national & international environment. It is therefore an appropriate moment to attempt a formalization of this development model. The Indian model of inclusive growth, viewed from a development economics perspective, has three pillars: (1) Market economics, (2) Empowerment, and (3) Pragmatism.