The main objectives of this paper were to study Knowledge Management and Organizational Performance, to find the correlation between Knowledge Management and Organizational Performance, to find the correlation between Knowledge Management and sub dimensions of Organizational Performance, to see the association among subscales of Knowledge Management and to find out the impact of knowledge management on organizational performance. The scope of the study was service and manufacturing sector organizations in India. The sample comprised of 118 respondents drawn from eight service and manufacturing sector organizations in India. The results revealed a very significant positive correlation between Knowledge Management and Organizational Performance. The results further indicate that the knowledge management has significant moderate impact on organizational performance. Almost all null hypotheses concerning Knowledge Management and Organizational Performance and their sub-scales vis-à-vis failed to be rejected.