The conventional offset lithographic printing ink is mainly based on linseed oil. But in recent years, due to stiff competition from synthetic substitutes mainly from petroleum products, the crop production shrinks down to an unsustainable level, which increases the price of linseed oil. Though soyabean oil has replaced a major portion of linseed oil, it is also necessary to develop alternate cost effective vegetable oils for printing ink industry. The present study aims to evaluate the performance of karanja oil (Pongamia glabra) as an alternative of linseed oil in the formulation of offset printing ink because karanja oil is easily available in rural India. Physical properties of raw karanja oil are measured and compared with that of alkali refined linseed oil. Rosin modified phenolic resin based varnishes were made with linseed oil as well as with karanja oil and their properties are compared. Sheetfed offset inks of process colour yellow and cyan is chosen to evaluate the effect of karanja oil in ink properties. In conclusion, karanja oil can be accepted as an alternate vegetable oil source with its noticeable effect on print and post print properties with slower drying time on paper. However, the colour and odour of the oil will restrict its usage on offset inks.