The Indian Economy

The Indian economy has undergone marked changes over recent decades encompassing episodes of rapid growth and stagnation. It is a complex economic story that stretches back to the seismic events of 1947.

Within a measured overview, this new title in the World Economies series explains the development of the Indian economy since independence and partition. The author explores the debates around India’s trajectory that have linked its varied history to the domination in policy making of the interests of the industrial bourgeoisie, rich farmers, and white-collar workers.

The book uses case studies of poverty and inequality, of education, health, work, and gender issues to outline the human story behind the economic figures and performance indicators. The factors that have made India unique, such as its internal geography and languages, the significance of the service sector, and the “democratic paradox of public service delivery” are explored in detail. India’s demographic dividend of a young population is one factor indicating a bright economic future, although its traditions and political structures remain the focus of intense debate.

The book provides a welcome up-to-date overview of the contemporary Indian economy – and the reasons it has assumed its current form – that will be of great value to students, professionals, and scholars needing an introduction to this most diverse of economies.

Matthew McCartney is director of the Contemporary South Asian Studies Program and associate professor in the political economy and human development of India at the University of Oxford.