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The Incomplete Transition: Stunted Industrialisation and the Historical Development of India's Big Business Class

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  • Mazumdar, Surajit

Abstract

In many parts of the world, industrialisation has been an outcome of their capitalist development, with profit seeking capitalists serving as its agents. Differences in the characters of this class of agents, shaped by their origins and their mutual interaction with actual industrialisation processes, however, characterise different stories of capitalist development. This paper explores this theme in relation to Indian capitalism – examining how the colonial origins of the Indian industrial capitalist class imparted to it a specific character and the limited extent to which that legacy could be overcome by the subsequent relatively restricted industrialisation process. The case of the Reliance group is used to fortify and illustrate the argument.

Suggested Citation

  • Mazumdar, Surajit, 2018. "The Incomplete Transition: Stunted Industrialisation and the Historical Development of India's Big Business Class," MPRA Paper 104967, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:104967
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    References listed on IDEAS

    as
    1. Deepak Nayyar, 2008. "The Internationalization of Firms From India: Investment, Mergers and Acquisitions," Oxford Development Studies, Taylor & Francis Journals, vol. 36(1), pages 111-131.
    2. Mazumdar, Surajit, 2016. "From “Outsider” to Insider: The Case of Reliance," MPRA Paper 93162, University Library of Munich, Germany.
    3. Mazumdar, Surajit, 2011. "The State, Industrialization and Competition: A reassessment of India's Leading Business Enterprises under Dirigisme," MPRA Paper 47810, University Library of Munich, Germany.
    4. repec:sid:wpaper:1002 is not listed on IDEAS
    5. Surajit Mazumdar, 2014. "Globalisation and Growth: The Indian Case in Perspective," India Studies in Business and Economics, in: Ratan Khasnabis & Indrani Chakraborty (ed.), Market, Regulations and Finance, edition 127, chapter 12, pages 213-230, Springer.
    6. Habib, Irfan, 1969. "Potentialities of Capitalistic Development in the Economy of Mughal India," The Journal of Economic History, Cambridge University Press, vol. 29(1), pages 32-78, March.
    Full references (including those not matched with items on IDEAS)

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    Keywords

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    JEL classification:

    • N0 - Economic History - - General
    • N00 - Economic History - - General - - - General
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • P12 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Enterprises
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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