International technology transfer has for long been an important source of technical know-how for Indian firms. In recent times the importance of this sources of know-how has increased substantially because of the increasing trend toward liberalization of the Government's policies. Case histories of firms based on imported technology reveal that the process of technology transfer is quite complex, successful management of this process of technology transfer is quite complex. Successful management of this process in many cases may be extremely important for the overall success of a firm. But little research has been done on understanding process. This paper is an attempt at understanding the process of technology transfer and development in the chemical industry through an in depth case study of the Gujarat Narmada Valley Fertilizer Company, Bharuch, Gujarat.