Imperialism and Growth of Indian Capitalism in Twentieth Century

Imperialism and Growth of Indian Capitalism in Twentieth Century Aditya Mukherjee Mridula Mukherjee This paper discusses the Indian experience of development since independence, with the emphasis on trying to relate the specific development path followed by the country to the historico-structural conditions in which it was placed. The first two parts of the paper highlight the nature of the political, economic and ideological development of the Indian bourgeoisie in the colonial period as well as certain trends in the colonial economy before 1947. The actual trends that have emerged in the Indian economy since independence as a result of the specific path of development that has been followed are outlined in the third part. Part four discusses certain other factors which are crucial to the path of development followed, viz, the nature of the hegemonic ideology in the Indian national movement as well as in Indian society after independence, the role of political democracy, the balance of class forces since independence, the role of the state and the public sector and the size of the Indian home market. The authors conclude with a discussion of some of the political implications of post-independence Indian development.