India is well known in the world for its contribution to the ancient Mathematics and even people agree in different parts of the world that India has done very well in the areas of pure mathematics during contemporary time through the work of researchers at the Tata Institute of Fundamental Research at Bombay and large number of universities in different parts of the country. It is true that in contemporary time most of the educational centers of higher education in India mainly focus on pure form of mathematics, Definition, Existence and uniqueness theorems, Lemma and corollaries. Mainly problems are direct/well posed (solution exists which is unique and stable). Illustration of mathematical problems with physical phenomena or processes and interpretation of solution and its visualisation or formulation of physical phenomena in appropriate mathematical concepts are not emphasized in the teaching of pure or applied mathematics. For a long time people in this part of the world thought Mechanics and Relativity Theory are only Applied Mathematics. Fourier analysis, in particular, and Harmonic Analysis in general, Applied Functional Analysis, Numerical Analysis were not considered as part of Applied Mathematics till 80s. Till early 60s only classical mathematics like special function, sequence and series, mechanics, geometry were taught in most of the educational institutions. Modern Algebra, Topology, Measure Theory, Functional Analysis, Approximation Theory Harmonic Analysis, Probability Theory, Mathematical statistics, Graph Theory, Differentiable Manifold, Complex Analysis and their applications to real-world problems have became popular in India due to various steps taken by Indian Government on the initiative of a group of talented Indians since the beginning of sixties. In this paper, the emergence of Applied and Industrial Mathematics in India will be discussed. It is also interesting to note that many significant applications of mathematics to solve real-world problems have been carried out by engineers and scientists. It is also heartening to observe that some Indians received very prestigious awards for applying mathematics in their work such as Nobel laureate Subrahmanyan Chandrasekhar (He was Ph.D. supervisor of late Prof. S.K. Trehan a distinguished Indian Applied Mathematician and I had privilege to host him at my residence in the early 90s), Prof. Srinivasan S.R. Varadhan, Abel Prize winner and recipient of US National Medal of Science (widely considered the panache of scientific achievement), Prof. C.R. Rao (FRS) recipient of US National Medal of Science and Prof. Thomas Kailath recipient of US National Medal of Science, Prof. K.R. Sreenivasan, a member of the National Academy of Sciences, and National Academy of Engineering and a fellow of the American Academy of Science and Arts and former Director ICTP. The article is divided into three parts. First part is devoted to the development of Applied Mathematics prior to 1960, the second part deals with development of the Industrial and Applied Mathematics between 1960 and 1990 (1990 is the year of establishment of the Indian Society of Industrial and Applied Mathematics). The third part contains status of Industrial and Applied Mathematics in different parts of India during 1990-2015, giving the details how emerging areas have spread. We conclude the article by presenting an assessment of what has been achieved till now and what is to be achieved infuture. [ABSTRACT FROM AUTHOR]