Now Reading: Padmini Swaminathan book reassesses India’s industrial policy
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Padmini Swaminathan book reassesses India’s industrial policy
Economist Padmini Swaminathan's new book, 'India's Industrial Policy: A Reassessment', examines colonial and post-Independence industrialisation, with a focus on Tamil Nadu. Published by Primus Books at Rs 1,250, the 540-page work draws…
The Story in Brief
Economist Padmini Swaminathan's new book, 'India's Industrial Policy: A Reassessment', examines colonial and post-Independence industrialisation, with a focus on Tamil Nadu. Published by Primus Books at Rs 1,250, the 540-page work draws on archival sources to trace tensions between imperial interests and provincial government in the Madras Presidency.
The book highlights how European mercantile communities opposed local industrial development, favouring only technical education. It also critiques post-liberalisation policies, arguing that self-regulating markets failed to deliver expected industrialisation. Swaminathan notes that Indian R&D, often through foreign collaborations, adapts technology for domestic use rather than innovating globally.
The Indian Opinion
The debate around industrial policy often swings between state control and laissez-faire, but Swaminathan's work punctures both extremes. The colonial-era opposition to local industries by European traders mirrors today's corporate resistance to strategic state intervention. Yet the book's critique of Indian R&D as mere adaptation, not innovation, cuts across ideological lines. The real test: will policymakers finally treat business groups as units of analysis, rather than vague clusters, and fund genuine innovation?
Source: frontline.thehindu.com
This story was synthesised by AI from the source linked above.
