The private corporate sector is an important instrument of planning in India, particularly for industrialisation, and has been accounting for nearly 50 per cent of the output and value added of total organised manufacturing. Why is it, then, that such an important sector has been contributing so little to the savings of the economy? This paper examines (1) why the share of the private corporate sector in total domestic savings is so low, and (2) why this share has fallen in recent years.