Indian Economic Growth in Historical Perspective

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This book investigates the roots of India's rapid economic growth in recent decades by exploring the late colonial period. Authored by the late Haruka Yanagisawa, it appeals to researchers in social and economic history, sociology, anthropology, and South Asian economies. The introduction sets the stage for understanding contemporary economic growth in India. The first part examines early economic development post-World War I, highlighting agriculture during the Great Depression, the growth of manufacturing driven by nationalist movements and import substitution industrialization, and the emergence of small-scale enterprises alongside changing consumption patterns, which foreshadowed post-independence informal sectors. The second part focuses on economic development in independent India, detailing state-led import-substitution industrialization that laid the groundwork for future growth, agrarian developments, and transformations in rural society and markets. The final part analyzes accelerated growth and the evolving structure of the Indian economy and society. It discusses the rise of small-scale and informal-sector industries producing low-cost goods, the expanding service sector, and the increasing link between rural society and the urban informal economy. It also covers economic reforms and the development of the large-scale formal sector, concluding with insights into the relationship between the structure of Indian