The objective of this present work is to estimate the failure loads, associated maximum transverse displacements, locations and the modes of failure, including the onset of delamination, of thin, square symmetric laminates under the action in-plane positive (+ve) shear load. Two progressive failure analyses, one using the Hashin criterion and the other using a Tensor polynomial criterion, are used in conjunction with finite element method. First order shear deformation theory along with geometric non-linearity in the von Karman sense have been employed. Variation of failure loads and failure characteristics with five type of lay-ups and three types of boundary conditions has been investigated in detail. It is observed that the maximum difference between failure loads predieted by various criteria depends strongly on the laminate lay-up and the flexural boundary restraint. Laminates with clamped edges are found to be more susceptible to failure due to transverse shear (ensuing from the out of plane bending) and delamination, while those with simply supported edges undergo total collapse at a load slightly higher than the fiber failure load. The investigation on negative (-ve) in-plane shear load is in progress and will be communicated as part-II of the present work.