One of the notable features of the developments in India during the colonial period was that despite what may be called perpetuation of her underdevelopment and her structural retrogression. ‘India had a larger industrial sector, with a stronger element of indigenous enterprise, than most underdeveloped countries of the world’. The present work seems to set for itself the task of analysing the conflict-ridden process of growth of private corporate sector—the main organizational form, assumed by Indian, like most capitalist processes, of industrial development—in order to offer some explanations for ‘the overall failure of that sector to transform the economy from a predominantly agricultural to a predominantly industrial one’. Apart from bringing out the actual details of the process of industrial development and the growth of corporate business from many primary and secondary sources, the book also attempts to analyse various theories and explanations which have been put forth for the purpose. It has also attempted to place the actual behaviour of private investment in the framework of some theoretical formulations as well as in the context of overall environment of industrial growth.
Sept-Oct 1979, volume 4, No 2