The best books about capitalism in 21st century India

We start at the top with the Indian nation-state itself and how it has been turned into a brand. What lies behind the narrative of “emerging” economies as attractive destinations for foreign investors? Where does it come from and who does it serve? Establishing a persuasive link between identity politics, populist nationalism, and global capital, Ravinder Kaur offers a model of critical interdisciplinary scholarship on the present. From the World Economic Forum in Davos to the corridors of power in Delhi, Kaur’s interviews shed light on how Indian elites think of themselves in the world (and how this differs radically from the postcolonial dream of non-alignment and social democracy). The close reading of the “Incredible India” publicity campaign is especially innovative, bringing together visual analysis and political economy. 

A key aspect of the “India story,” as described on the macro level by Kaur, is entrepreneurship and the ethos of jugaad (innovating by making do). The idea of India as the new Silicon Valley has captured the global imagination, while the creative use of technology promises to solve longstanding social and economic problems within the country. Lilly Irani’s study questions the dominant framework of “entrepreneurial citizenship” among the new middle classes and the centrality of design practice to India’s current development model. This is another stellar example of interdisciplinary scholarship, based on ethnographic fieldwork at a Delhi design studio and drawing on the author’s background in computer science. 

There is no better book for understanding India’s family businesses in a broader social and political context than this sprawling, powerful novel. Preti Taneja retells and reworks Shakespeare’s King Lear as three sisters (and an illegitimate son) fight over the inheritance of a massive company that makes everything from textiles to cars (echoes of the Tatas, Birlas, and Ambanis, but also of the East India Company as the subcontinent’s original corporate sovereign). Taneja touches on all the big issues, including gender, caste, climate, and Kashmir, without ever being preachy. It is a long and sometimes challenging read, but always rewarding. I may be biased given the subject matter, but this is the century’s Great Indian Novel—a worthy successor to the likes of Midnight’s Children, A Suitable Boy, and Sacred Games. 

Readers are spoiled for choice when it comes to investigative journalism and narrative non-fiction about contemporary India, but Siddhartha Deb’s collection of essays (titled after F. Scott Fitzgerald) stands out in a crowded field. Though a decade old, it has not lost any of its relevance or punch. Deb profiles a series of unforgettable figures, from a controversial upstart businessman to emigrant engineers, peasant revolutionaries, informal industrial workers, and a waitress who serves the rich and powerful. The book moves seamlessly from the city to the countryside, exposing both the aspirations and the frustrations of capitalism as it is really lived and felt by a wide cross-section of people across India. 

We started in the snow-capped peaks of Davos and end in the sun-baked forested hills of Niyamgiri in Odisha, where Adivasis (India’s “tribals” or indigenous groups) are fighting land seizures by multinational mining companies like Vedanta. This remarkable book, co-authored by anthropologist and regional expert Felix Padel (who happens to be Charles Darwin’s grandson) and activist and filmmaker Samarendra Das, shows how such distant spaces are connected. It brings attention to the commodity chain of aluminum, from the bauxite in the ground to the finished industrial and consumer products all around us, and faithfully captures both corporate strategies and indigenous perspectives (a rare feat). Now in its second edition, Out of this Earth continues to inspire a deeper understanding of capitalism as a total system and provides hope to those challenging it.