Technology transfer is an important means by which developing countries gain access to technologies that are new to them. Most technology transfer has between developed and developing countries through commercial technology transfers by the private sector. These include transfers through foreign direct investment, foreign licensing, turnkey projects, technical consultancy, capital goods acquisition, international subcontracting and joint ventures. By opening of the Indian economy (LPG policies-1991), several Indian companies are poised for different types of financial, technical and other forms of collaborations. Though they enter with proper technology transfer agreements, some are not successful with different reasons. Government of India's Ministry of Scientific and Industrial Research is playing a vital role through its technology transfer policy in both inward and outwards technology transfers to the Indian companies through automatic route and some are through project approval board (PAB). The ability of the country to use technology transfers to develop their domestic capabilities to reap the social and economic benefits have been very mixed. This paper explores the important issues involved in the technology transfer besides the scope of technology transfer disputes and the promotion and regulation of technology transfer in India.