Abstract: The purpose of this study is to empirically examine the validity of the Marshall-Lerner Condition in India in the Pre reform (1962-1990) and Post reform interlude (1991-2013) considering the total exports & imports of India. Also, this paper critically analyzes chief industry (Sugar Industry) of the Manufacturing sector of India for the five year period of 2009-2014. Manufacturing sector is the backbone of Indian economy as it fuels growth, productivity and employment and strengthens other sectors of the economy.