India’s story of the last two decades since the country made a transition to a liberal economic policy regime has many sides to it that may be considered somewhat remarkable in the light of her historical legacy. India has in this period certainly been an important part of the story of the...

This paper briefly presents an analytical description of the twin processes of growth of output and change in its composition in the Indian economy since independence, by looking at the time-paths of the two dimensions simultaneously. It suggests that three turning points located respectively in...

This paper makes the case that the growth trajectory of the Indian economy in the post-1991 liberalization period is characterised by an inherent source of instability in manufacturing and industrial growth that distinguishes this period from the 1980s. This instability is a result of an...

Abstract: This paper examines the sustainability of the unprecedentedly high aggregate GDP growth witnessed in India from 2003-04 till the eruption of the global crisis. It argues that the post-liberalization highly non-inclusive and corporate-sector led growth trajectory in India suffers from a...

This paper explores the elements of continuity and change associated with Indian capitalism’s transition to its liberal phase after 1991. While acknowledging the significant changes since then, it is argued that the origins, nature, and consequences of Indian liberalization cannot be...