This is a draft report that I submitted to an organisation early last year on the need to develop a labour perspective on India’s rising overseas investment in other developing economies. The report mainly analyses investments in Africa (esp Kenya and Sudan). It’s nothing great, but at least it grasps the urgency of developing such a perspective. It urges us to move beyond postcolonial anxiety and complexes in our understanding of India’s political economic location in global capitalism. At least, people in our neighbourhood and in economies far off, where Indian intervention has reached and increased, are beginning to understand the myth of third world homogeneity. See our interview with a prominent Bangladeshi Marxist, Anu Muhammad.
Download the report
For my earlier take on the issue,
Bush’s Passage to India: Why Does India Carry His Water? (Counterpunch, Feb 2006)
2 thoughts on “India’s overseas investments – some facts and meaning”
This is an important issue which has, unfortunately, received almost no attention from Indian leftists. Good to see such a detailed and focused work and I look forward to reading it. It would be necessary to now try and move on to a study of the totality of Indian capital exports, where they are going, who is involved – both in India and in the destination countries, what does it mean for the Indian State and finally, what implications does it have for Indian politics.
Will keep coming back for more.
Thanks, Aniket, for your comments and encouragement. In my view, in order to understand the trajectory of India’s foreign policy and its location in the global political economy, an analysis of this phenomenon is very important. Only this will make us grasp the redundancy of various epithets that we habitually use in order to characterise Indo-American relationships and India’s other manoeuvrings in the international arena, including in Nepal, Sri Lanka or Bangladesh. Further, this will help us overcome a stageist understanding of Indian capitalism.