ABSTRACT
This chapter argues that the basis of an examination of the nature of the accumulation regime of Indian capitalism as it has increasingly integrated with the global economy that the answers to these questions may be on the negative side. The Indian case serves as an illustration of something that perhaps may be common to all the 'emerging' Third World capitalisms even if in varied ways, namely, the contradictory nature of their so-called rise. Indian capitalism's technological dependence remains severe. Economic expansion in the Third World has outpaced that in advanced capitalist countries, though the average per capita income levels in the two groups of countries remain vastly different. Third World countries have also come to account for a large share of global manufacturing value added and have witnessed a much faster growth of their foreign trade during the period of globalisation.
