Chaudhry, Praveen K. creator Yadav, Vikash Kelkar, Vijay L. text xu| 2004 continuing ng p.59-81. This article explores the historical relationship between the Government of India )GOI) and the International Monetary Fund (IMF) as a successful model for the ways in which a developing country can learn to work with and through multilateral organisations to promote economic and political development while sustaining democratic institutions and relative international political autonomy. In the mid-1960s. India's relations with the USA, IMF, and World Bank were strained after an attempt by these institutions to exert `leverage' over Indian economic policies was exposed to parliamentary debate and the scrutiny of a free press. By the late 1970s, the GOI charted a new course in its interaction with the IMF. In 1981, India was awarded the largest IMF loan to a developing country up to that time. This article will evaluate India's economic reform strategy in the early 1980s and explain the development of the concept of `homegrown conditionality' within the GOI. - Reproduced. International Monetary Fund Journal of Development Studies 180718