INDIA'S NEW CAPITALISTS

Book excerpt: It’s no secret that certain social groups have predominated India’s business and trading history, with business traditionally being the preserve of particular ‘Bania’ communities. However, the past four or so decades have seen a widening of the social base of Indian capital, such that the social profile of Indian business has expanded beyond recognition, and entrepreneurship and commerce in India are no longer the exclusive bastion of the old mercantile castes. In this meticulously researched book – acclaimed for being the first social history to document and understand India’s new entrepreneurial groups – Harish Damodaran looks to answer who the new ‘wealth creators’ are, as he traces the transitional entry of India’s middle and lower peasant castes into the business world. Combining analytical rigour with journalistic flair, India’s New Capitalists is an essential read for anyone seeking to understand the culture and evolution of business in contemporary South Asia.