It is sometimes said that the interpretations of the ancient periods of history have little historiographical interest, since they refer to times too distant for an ideological concern to have much meaning for contemporary society, and that the sparseness of the evidence does not provide much margin for ideological debate. This view would not, however, be valid for the interpretation of early Indian history, where both the colonial experience and the nationalism of recent centuries have influenced study, particularly of the early period of history. Historians often classify the past by dividing it into different periods. Labels are convenient, but they should be meaningful and consistent, and it is necessary to be aware of their limitations. History is not one but many stories, only a few of which have as yet been written. The study of ancient Indian history is important for several reasons . It tells us how, when and where people developed the earliest cultures in India, how they began undertaking agriculture and stock raising which made life secure and settled. It shows us how ancient Indians discovered and utilized natural resources and how they created the means for their livelihood. We get an idea of how the ancient inhabitants made arrangements for food, shelter and transport . Also they learn how to farming, spinning, weaving and Metal working, and the like how they cleared forests, founded villages, cities and eventually a large kingdom such as Mauryan Empire. In this article I have discussed shortly about the Pre-Historical Phase of mankind, Indus Valley Civilization, Vedic Period and the rise of Territorial States - Mahajanapadas.