This book examines the transformation of the Indian economy in the period following the economic liberalization reforms of 1991. The authors provide a critical analysis of globalization, capitalism, and development, arguing that India's economic transition cannot be understood merely through conventional measures of growth and modernization.

Using a Marxian political-economy framework combined with insights from postcolonial theory, the book explores how neoliberal globalization, global capitalism, and inclusive-development policies have reshaped India's economic and social landscape. The authors analyze issues such as class relations, labor conditions, state policy, accumulation of capital, poverty, inequality, and the changing nature of development.

The book argues that post-liberalization India represents an epochal transition characterized by the expansion of capitalism and the integration of the Indian economy into global markets. At the same time, it highlights persistent inequalities and contradictions within the development process.