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In recent decades, private investment has led to an economic resurgence in India. But this is not the first time the region has witnessed impressive business growth. There have been many similar stories over the past 300 years. India's economic history shows that capital was relatively expensive. How, then, did capitalism flourish in the region? How did companies and entrepreneurs deal with the shortage of key resources? Has there been a common pattern in responses to these issues over the centuries? Through detailed case studies of firms, entrepreneurs, and business commodities, Tirthankar Roy answers these questions. Roy bridges the approaches of business and economic history, illustrating the development of a distinctive regional capitalism. On each occasion of growth, connections with the global economy helped firms and entrepreneurs better manage risks. Making these deep connections between India's economic past and present shows why history matters in its remaking of capitalism today.
In recent decades, private investment has led to an economic resurgence in India. But this is not the first time the region has witnessed impressive business growth. There have been many similar stories over the past 300 years. India's economic history shows that capital was relatively expensive. How, then, did capitalism flourish in the region? How did companies and entrepreneurs deal with the shortage of key resources? Has there been a common pattern in responses to these issues over the centuries? Through detailed case studies of firms, entrepreneurs, and business commodities, Tirthankar Roy answers these questions. Roy bridges the approaches of business and economic history, illustrating the development of a distinctive regional capitalism. On each occasion of growth, connections with the global economy helped firms and entrepreneurs better manage risks. Making these deep connections between India's economic past and present shows why history matters in its remaking of capitalism today.
Preface; List of figures; List of tables; List of maps; List of boxes; 1. Introduction; 2. The baseline at 1700; 3. Indian Ocean sphere, 1700–1850; 4. Capital and empire, 1850–1930: trade and finance; 5. Capital and empire, 1850–1930: industry; 6. State and industrialization, 1930–1950; 7. State and industrialization, 1950–1980; 8. Revival, 1980–2000; 9. Capital and globalization, 2000–2015; 10. Conclusion; References; Index.
Studying firms and entrepreneurs over three centuries, this book unravels the historical roots of the impressive business growth witnessed in contemporary India.
Tirthankar Roy is a Professor of Economic History at the London School of Economics. He has published widely on South Asian history, global history, empires, and environmental history. His publications include The Economy of South Asia: From 1950 to the Present (2017) and India in the World Economy from Antiquity to the Present (Cambridge, 2012).
'Roy has written a book of stunning intellectual ambition. He
provides a brilliant synthesis of the long-run development of
Indian capitalism, but more importantly still offers a compelling
explanatory framework which shows how the changing roles of the
global economy and the state influenced access to capital and
knowledge'. Geoffrey Jones, Isidor Straus Professor of Business
History, Harvard Business School, Massachusetts
'This book is a sweeping study of Indian business history from the
eighteenth century to the present. A Business History of India
provides an invaluable analytical perspective that elucidates the
structure of both Indian and multinational firms in the past and
changing business environments … Highly readable … would be a
superb text in any course on Indian business/economy'. Douglas E.
Haynes, Dartmouth College, New Hampshire
'This fascinating book weaves the intricate details of Indian
business history into the backdrop of changing policies,
governments and international contexts. An unusual and exciting
contribution to economic and business history.' Bishnupriya Gupta,
University of Warwick
'… this book is rooted in a balancing of knowledge of primary
sources and the author's past research with wide-ranging secondary
scholarship.' J. Lally, The English Historical Review
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