Professor Radhakamal Mukherjee, M.A., F.R.S., Lecturer in Economics, Calcutta University, who had been invited by the Punjab University to deliver a series of lectures on Indian economics this session, delivered his introductory lecture before a large gathering of students in the University Hall this evening. The Vice-Chancellor presided. Professor Mukherjee began by giving an outline of his scheme of an independent school of Indian economics. He considered the inapplicability of western economic theories to Indian economic and social condition, urged the necessity of developing new economics for India which will contribute towards the formulation on the basis of a general and comparative study of western and eastern type of social evolution of economic principle of universal validity on the one hand and on the other towards the development of commercial habits and constitution of Indian social order based on human instincts and natural sympathies which had been threatened by anti-social tendencies of latter day industrialism. This will set at rest the apparent conflict between communalism of the East and the competition of the West and will make for real progress and vital well being and culture instead of false progress which is now associated with an increase of more mechanical efficiency and power.