The Gandhian ideology, whose main focus is on welfare and dignity of individual, provides us a broad framework into the new philosophy of economic development that we need today. Mahatma Gandhi's philosophy of truth, non-violence and Satyagraha helped India getting liberation from British rule and is considered a perennial philosophy to fight injustice, oppression and suppression of human rights. The basis of Gandhi's economic philosophy was individual dignity and the welfare of the poorest of the poor. Gandhi criticised the capitalist system because it was based on ownership of the means of production and property. Intermediate technology is a technology with a human face, which is viable and integrates the human being with his skilful hands and creative brains, into a productive process. Policy-makers all over the world are groping in the dark, trying to find the best economic model to build a stable and sustainable economy.