Contours of Value Capture: India's Neoliberal Path of Industrial Development

Description

This book provides a critical perspective on contemporary debates on industrialisation in India. It aims to study the process of industrialisation at a conceptual level and articulate and contest the evolving debates and discourses. Instituting a market led growth in India ended in a trajectory that depends heavily on profit income led and corporate driven growth. However, the performances as well as fault lines assessed in terms of industrial growth are often restricted to a discourse on shifting relative importance of agriculture, industry and services and are largely pegged on the state versus private debate. It appears that the heterogeneous space of critical perspective tends to undermine the more fundamental questions that need to be raised in relation to the larger perspective of capitalist industrialisation in India. This book addresses these questions and provides insights into the complexities of the process and growth of industrialisation as it has played out in contemporary India. Cover Half Title Title Copyright Contents Tables and Figures Preface 1: Introduction Value Capture About the Book 2: Manufacturing versus Services A Misplaced Debate Some Stylised Facts on Manufacturing: India and the World A Misplaced Debate Real Cause of Worry Synergies between Manufacturing and Services 3: Global Production Network India and Developing Countries Perspectives on Production Networks Global Integration: India and China Foreign Value Added and Net Gain Impact on Labour 4: Financialisation in India Emerging Trends in Corporate Sector Contesting Perspectives and Identifying Trends Financialisation: Macro Trends in India Changing Nature of Corporate Finance Profiteering through Wage Repression 5: Hierarchies of Capital and the Architecture of Value Capture Labour Arbitrage Value Capture in Production Network Finance and Value Capture Empire of Capital 6: Informality Regime of Accumulation and Discourse of Power Employment and Precarious Labour Informality as a Regime of Accumulation Systemic Crisis and Precarious Labour Informality as Discourse of Power 7: Self-Employment as Disguised Dispossession Non-wage Employment in India Capital and Non-capital Autonomy or Fragmentation 8: Land Acquisition in India Revisiting Primitive Accumulation Triple Crisis and Development Discourse Financialisation and Real Estate Development Discourse and Primitive Accumulation 9: Decoding Resistance and Class Formation in the Neoliberal Regime Capital–Labour Relations in Globalisation Resistance and Class Formation 10: Conclusion References Index