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The prospects for industrial development in the early years of independent India were plagued by a number of interrelated issues. Indian industrialists of the post-Independence era had either evolved from the ranks of merchants and moneylenders of the colonial period or from wartime speculators and hoarders. In general, their interests lay in short-term speculative gains rather than in sustained industrial growth.
In addition, the impoverished condition of the ...
Indian industry has undergone a wide variety of changes since economic reforms were initiated in 1991. However, a question still being asked is: why, after 45 years of support through protectionist policies, did Indian industry need yet more time to become technologically competitive? Addressing this important yet neglected question, this book traces the history of industrialisation and innovation in India. Nasir Tyabji points out that the distinction between the ...