Since its establishment in 1907, the IMC has played a significant role in consolidating Indian business interests and making the Indian economy self-reliant. It kept pace with and, in its own way, became part of the Indian struggle for freedom.

It was the Chamber's dedication that made Mahatma Gandhi patronise it and accept, in 1931, its honorary membership - a rare honour bestowed upon any chamber of commerce in this country.

Indian Merchants' Chamber took birth on September 7,1907 to wrest economic Swaraj for people under the inspiration of great leaders like Lokmanya Tilak, Justice Ranade, Dadabhoy Naoroji and Mohandas Karamchand Gandhi. Mahatma Gandhi noticed the singular role played by the Chamber and agreed to become its honorary member, thereby bestowing upon it a unique honour.

The patriotic fervour churned up by the chamber roused the business community to work towards liberating Indian industry, trade and commerce from foreign domination. The spirit of Swaraj possessed the chamber, a long succession of its presidents turned fighters for economic freedom.

The chamber lent full support to the hardcore political struggle led by the congress and engaged itself in organising nationalist businessmen. The Indian economy suffered violent disturbances under the impact of two world wars, a series of global depressions, famines that took millions of lives, recurring epidemics of banks insolvency, sporadic eruption of communal riots and political upheavals. Against this backdrop, the British government was quietly tightening its stronghold on vital parts of the Indian economy-industry, trade, commerce, banking and transport through a plethora of legislative measures.

The chamber waged historic battles against every one of these measures and dispelled wrong impressions, if any, that the chamber was constituted to safeguard only traders' interests. Pre-independence, IMC functioned as the nation's watchdog on the economic front, keeping vigil on the colonial masters' exploitative moves.

Post-independence, the IMC continued its association with eminent personalities who shaped India as we know it today - Jawaharlal Nehru, Sardar Vallabhbhai Patel, Dr. Rajendra Prasad, Dr. S. Radhakrishnan, Lal Bahadur Shastri, Smt. Indira Gandhi and Rajiv Gandhi, to name a few. Such stalwarts often graced the Chamber by their presence and thought-provoking addresses.

Atal Behari Vajpayee, Honorable Prime Minsiter of The Republic of India (November 2003)
"Over the years, it (the IMC) has striven hard to focus on critical issues and help resolve them in an amicable manner by strengthening government business partnership, disseminating information and enabling Indian business to reach out to a larger international forum. Its current emphasis on the crucial role of quality for globalisation will help accelerate economic progress.

"...we realised that political independence was a prerequisite for anything else. Therefore, it has to be given such a place in every man's thinking in India, and I am glad, at that stage, this Chamber realised that fact and threw its weight, on the side of the freedom struggle and I should like to acknowledge or appreciation of it."
- Pandit Jawaharlal Nehru

"Of all the chambers of commerce in the country, none has had a higher record of achievement and of more steadfast service and devotion to the cause of Indian commerce and industry than the Indian Merchants' Chamber."
- J R D Tata

"This Chamber is perhaps one of the oldest bodies, representing national interests all throughout their career, and, especially, when we were fighting against British domination."
- G D Birla

"If the founders of the Congress were patriotic, the founders of the Chamber were not only enlightened but also very bold and imaginative. As the Congress has played a useful part in creating an atmosphere of patriotism, the Chamber has also rendered immense service to the commerce and industry of the country."
- Sardar Vallabhbhai Patel

"It is not easy to assess the part played in the resurgence of our nation by the pioneers of the commercial world of Bombay. The Indian Merchants' Chamber has fought several battles for swadeshi and economic progress."
- Smt. Indira Gandhi

"The aim of technology missions is to act as catalyst and develop links between laboratory, bureaucracy and final delivery of services. It is important that the mind should be modernised and R&D should develop faster, as also get absorbed in day-to-day life. The various steps taken by the Chamber towards this end are indeed laudable."
- Rajiv Gandhi