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In this paper an attempt is made to understand the Indian ethos described in our scriptures and its application and use in managing the business in India. Majority of the business corporations in India have been managing their corporations in western style of management. Similarly most of them are using management techniques like
BPR, TQM, Quizen and many more. In the name of professionalism and modernization even Indian business management people knowingly or unknowingly forgotten the Indian ethos in the name of traditional management. This process of practicing the management in Indian
business has created significant problem in understanding the real value of Indian management. Whether we have popularized either Japanese management or American management and not tried significantly by Indian management. Now the time has come to understand the values of Indian ethos to bring them in practice