Familial and epidemiological studies have shown that genetic factors play a role in the development and progression of type 2 diabetes mellitus (T2DM). Asian Indians have shown an increasing prevalence of T2DM. Apolipoprotein E (APOE) and Angiotensin-1 converting enzyme (ACE) I/D polymorphisms have been associated with T2DM. This study examined the association of APOE and ACE genes with T2DM patients of Punjab, India. APOE (HhaI) and ACE (I/D) genotypes analysed by polymerase chain reaction were available from 90 patients and 97 random healthy controls. All loci and populations are in Hardy-Weinberg equilibrium. There is no significant association of APOE vis-à-vis T2DM, however APOE*4 allele frequency is low in diabetics (3.9% and 8.8%). DD genotype and *D allele of ACE are associated with T2DM (OR=1.90, p<0.05, and OR=1.58, p<0.05, respectively). Recessive and multiplicative mode of inheritance for *D allele provided the strongest support for the association. Height, weight and BMI did not reveal any significant association with APO or ACE. DD-33 and ID-23 combinations (ACE-APOE) showed higher odds of 2.01 and 2.14, respectively. ACE but not APOE polymorphism is positively associated with T2DM in Indian population, however, the synergistic effects of DD-33 and ID-23 are also evident.