ABSTRACT
The most conspicuous presentation of India’s success is shown in terms of its growth in the gross domestic product, which supposedly has shown a steady growth and then a decline. It was declining steadily even before the COVID-19 pandemic led to a country-wide lockdown. The other narrative to project the success of neoliberalism is the late capital projection of a sophisticated “cultural” industry. India, being one of the often-cited success stories of neoliberal policy, has seen the devaluation of the rupee, increase in interest rates, reduction of public investment, reduction in public sector food and fertiliser subsidies, restructuring of the industrial sector, increase in imports and foreign investment in capital-intensive and high-tech activities, and the abolition of the cash compensatory support for exports since 1991. This chapter also presents an overview of the key concepts discussed in this book.
