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Based on a presentation at Middle Income Countries (MICs) Initiative consultation organised by ActionAid International at Johannesburg, South Africa, during 13 August 2007. There has been during the last sixty years or so an unprecedented growth and diversification of the poverty industry . It has involved practically every national government, market forces, political parties, social movements, national and international civil society institutions, except that the main constituency with the greatest stake in it has not been allowed to take command of the industry . The paper presented at Middle Income Countries (MICs) Initiative consultation at Johannesburg, South Africa in August 2007, makes an attempt to examine various aspects of poverty as it is seen and understood in India.