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Synopsis Collection development, ordinarily perceived as not a very demanding or exciting work, contain elements that bring great personal satisfaction to those whose careers are spent in the library. Little can excel the feeling that the libraries experience when the material needed by a particular user can be delivered to him immediately. It is the book and its many surrogates which are emblematic of stability in cultural transmission and it is the journal which represents, above all, the symbol of power, status and achievements within the academic discipline. They are central to providing information, entertainment, analysis and education to millions worldwide. Collection development is essentially an effective audit aspect of a library, closely linked with it users. Publishing industry, on other hand sets the limits within which libraries have to perform acquisition activities as bulk of the purchases relate to published works only. Libraries and publishing houses are part of separate but intersecting systems. They depend upon and are affected by the products, requirements and services of one another. The degree of proficiency and service conscientiousness of the publishers greatly determines the degree of positive or negative influences on the acquisition activities. A common understanding of the processes involved in each system is essential to improve the relationship.