Assessment Centres are used the world over as the most valid technique of competency mapping. This competency mapping is the first step towards competency development. We excel in using Assessment Centres for competency mapping and competency development. Assessment centres methodology is known to have been used or recommended at least 1500 years ago in India as mentioned in Kautilya’s Arthashastra. Both assessment centres and development centres have become very popular new era HR tools. With human resources gaining strategic importance combined with raising costs of talented managers and their scarce availability, organizations are left with no alternatives than identifying and grooming talent from within. Assessment tools like interviews covering background, personal objectives, social values, interests, etc., in – basket exercises, business games, leaderless group discussion, and various projective and chapter and pencil tests were used.