The implementation of control algorithms for MIMO systems is often complicated due to variations in process dynamics that occur because of change in operating point and the characteristics of nonlinear dynamic coupling. Such difficulties often render the performance of industrial decoupling based decentralized PID controllers unsatisfactory. This work develops Dynamic Matrix Controller (DMC) which meets the design specifications for each loop independently for the entire nonlinear operating range. To verify the applicability of the developed DMC, this work presents a Two Conical Tank Interacting Level System (TCTILS) to examine the control performance. Simulation results show that the designed DMC realise a good dynamic behaviour of the TCTILS, a perfect level tracking with no overshoot, lesser settling time, reduced interaction and good rejection of external load disturbances.