Forging Capitalism in Nehrus India: Neocolonialism and the State, c. 1940-1970

Hardcover | November 22, 2015

byNasir Tyabji

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The prospects for industrial development in the early years of independent India were plagued by a number of interrelated issues. Indian industrialists of the post-Independence era had either evolved from the ranks of merchants and moneylenders of the colonial period or from wartimespeculators and hoarders. In general, their interests lay in short-term speculative gains rather than in sustained industrial growth. In addition, the impoverished condition of the peasantry resulted in the prospects of attractive returns through the diversion of urban resources to the rural moneylending market. Let alone preventing fresh industrial investment, this diversion bled the industrial sector of funds to cover even thereplacement costs of plant and machinery. Finally, because of the nexus long established between some sections of the owners of capital and the Congress party, decisive corrective intervention by the government after Independence became a problematic political task. This volume examines the processes by which these problems, exacerbated by colonial nonchalance, were comprehended by the political executive in independent India, and shows how measures of social engineering were attempted in order to reform the more extreme cases of capitalist cupidity.

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The prospects for industrial development in the early years of independent India were plagued by a number of interrelated issues. Indian industrialists of the post-Independence era had either evolved from the ranks of merchants and moneylenders of the colonial period or from wartimespeculators and hoarders. In general, their interests ...

Nasir Tyabji is an economic historian with interests in the areas of technology, innovation, and the social aspects of industrialization. After some years spent at the Madras Institute of Development Studies, Chennai, and the Nehru Memorial Museum and Library, New Delhi, he taught at the Jawaharlal Nehru University, New Delhi. Subseque...
Format:HardcoverDimensions:202 pages, 8.5 × 5.43 × 0.98 inPublished:November 22, 2015Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:019945759X

ISBN - 13:9780199457595

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Table of Contents

ContentsPrefaceIntroduction1. Capital Accumulation under Colonial Economy and Company Law2. Inculcating Corporate Responsibility: The Bombay Plan as Social Engineering3. Liaquat Ali Khanas 1947 Budget and the Corporate Response4. Administrative Attempts to Channel Accumulations: The Income Tax Investigation Commission5. Sholapur Mills and the Initiation of Social Engineering6. Private Industry and the Second Five-Year Plan:The Dalmia-Jain and Mundhra Episodes7. Denouement: The Final Abolition of Managing AgenciesIndexAbout the Author