Abstract: In these research paper researchers examines emerging economic as well as implications on overall economic development and growth of Indian economic globalization. The paper focuses on the main motives of the Influx Foreign Direct Investment (IFDI) by the MNEs and its economic implications on the Indian economy. The originality of the study lies in its analysis of the overall investment pattern of MNEs companies and the nature of their global operations in a view to invest in India. Furthermore researchers explore the contribution of Service Sector that is one of highly demanded sectors towards economic development and growth of India through FDI in the current economic scenario in India.