The case describes the strategies developed and changes planned by a large trading company to deal with a radically changed economic environment in India. MMTC Limited, a public sector company, found itself facing a likely sharp fall in its turnover in mid 1992, due to the liberalization and restructuring of the Indian economy. The revised mission, objectives, and focus; and various functional strategies developed by the company to meet the changed situation are described in the case. Projections of its performance in the next two years (1993-94 and 1994-95) are also given.