The sergestid shrimp, Acetes indicus H. Milne Edwards, contributes to a substantial percentage of the crustacean landings along the Maharashtra coast. Although much information on its distribution and fishery is available through the works of Kemp (1917) and Kuiyu (1966), the larval development of the species has not been worked out so far. The present paper describes the different larval stages of the species from egg through post larva. It is observed that the larva passes through 3 naupliar, 3 protozoeal, 1 mysis and 5 postlarval stages in the course of its development. A comparison of the diagnostic features of the different larval stages with the corresponding stages of other allied species has been given.