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Tag Archives: two-tier society

Diane Coyle — Our Gilded Age (India version)

Short review of FT’s former Mumbai bureau chief James Crabtree’s The Billionaire Raj. The theme of the book is corruption, and its co-evolution with the Indian economy as the ‘licence raj’ restrictions were progressively removed, and new sectors like telecoms grew dramatically. In this new world, the super-wealthy businessmen and the politicians found they needed each other: the deployment of legislation and contracts helped the former, the opportunity to take part in business helped the...

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