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4- May-1992	India and Russia sign a five-year agreement on trade and economic cooperation.
10- May-1992	Dr. D.S.Tyagi, Chairman of the Agricultural Costs and Prices Commission, was shot dead by suspected Sikh terrorists in Delhi.
14- May-1992	LTTE banned in India.
17- May-1992	Import of 106 life-saving drugs and 37 equipments allowed.
20- May-1992	Third developmental launch of ASLV. Stretched Rohini Satellite Series (SROSS-C). Launched by third developmental flight of ASLV-D3. This carried Gamma Ray astronomy and aeronomy payload.
22- May-1992	India launches its 'Agni' rocket.
28- May-1992	Indo-US naval exercises begin.