The word community radio conjures up a mix of reaction in the minds of Indian people. Sometimes the responses are optimistic as it recalls community radio stations, which have achieved spectacular success. But the responses are depressing when the dozens of unpopular and neglected community radio stations comes to ones notice. This dichotomy confuses one about the success of community radio and raises questions about its future. The questions which come to one's mind are — Can community radio as a tier of broadcasting be viewed as a real alternative to the public service and commercial enterprise broadcasting models? If yes, has it got the attention and recognition it really deserves? If no, what ails community radio in India? What are the challenges community radio faces in India? What are the opportunities available for the growth and appropriation of community radio in India especially for democratisation of information? A genuine attempt to answer these questions can go a long way in understanding the challenges and opportunities to the evolution of community radio, which this paper attempts to explain. In addition, it also explores the positive actions that can shape community radio as a powerful sector in India contributing to poverty reduction, development objectives, inclusiveness, and democracy building in local communities around. The discussions in this paper transpire that community radio can find tremendous opportunities in the sociocultural and linguistic diversities in India to evolve into a powerful alternative tier of broadcasting.