The Billionaire Raj

This book impeccably explains the boom and doom years of Indian economy post 2000s. The moguls begins the scene and how indian economic actors mimick the American Guilded age actors during 1900s. The crony capitalists of South, the andhraprenuers and rubber Barrons of north with their intricate and mallicious agenda is explicated with unwavering precision. The research done from various eclectic sources is pristine and breathtaking. However I don't agree with conclusion and possible futuristic scenario of India, the parralels drawn with our current prime minister and the changes happening in political landscape. The wisdom was missing. India is an enigma, a nation gifted by the gods, it has its own destiny irrespective of the malice existing in pockets.

It's a book that covers the transition of India and the challenges faced by developing countries,but in hindsight things have changed for the better,and emerged as a global leader in pandemic support , digitisation , consumer consumption etc

James Crabtree is prolific in his writing , He brings an empathetic and insightful point of view of what ails India right now with equal measure of views, analysis stories. The painstaking research, interviews and perspectives of the oligarchs to the reasons behind the state of affairs in India. A balanced perspective that gives in equal measure scathing criticism of the governance and also suggestions for India . The analogy of the gilded age is thoughtful as India hopes for the advent of the progressive age by learning from the eastern economies .

Loved this well-researched and equally well-written book. All of the billionaires feature, and it even includes details about right-wing nationalism and the Modi government.Very highly recommended read.Bought a copy for my Dad for his birthday, too.9.5/10.

My curiosity in this book was spurred by the question of who is the middle class in India and how far are they from the rich. The book establishes that fact early on: $32K or about 21 lakhs in assert is all that’s needed to qualify as the top 1pc in 2016. It then moves to the difference between the richest of the rich and the others and how they have amassed their wealth.The books names all the usual suspects from Mukesh Ambani and Gautam Adani to GVK in Andhra Pradesh and how the rise of billionaires is linked to the political economy of India i.e the money needed to fight elections. It delves extensively into the post liberalisation growth and scams and even astutely makes the case for corruption being a necessary evil when differentiating the billionaires of south vs north ex Sahara vs GVK. The many similarities and differences are interesting as a read as are the comparisons with other economies from USA to Russia.The book touches upon caste as a social capital and how it fuels the growth of billionaires and how it goes hand in hand with politics. The rise of Jayalalitha and Narendra Modi make for an interesting comparison and how demagoguery is central to both leaders given their different political ideologies is truly fascinating.Not just business it also touches upon the lure of the IPL and it’s mega business linked to owners and the politics behind the scenes. Although it doesn’t touch upon the movie industry, either Bollywood or any of the southern ones. Maybe because their is no billionaire there yet but it does highlight overlaps across with folks such as Ponty Chaddha and the ownership of IPL teams by Bollywood celebrities.The book takes the reader on an interesting webbed journey across business and politics interspersed with references galore and will give a great perspective on the rise of super rich till 2015. The author left India in 2016 so I feel that some of the important advances in the relationship between politics and business such as bond funding completely go missing from the narrative. It rarely if ever offers solutions to any of the problems that it highlights but gives a very good summary of how the business-politics nexus works.I would absolutely recommend this to those who are looking for a starting point to understand the inequality in India and how it’s fuelled. It will also be a good refresher for those who are keen to know more about the Boligarchs or the Indian billionaires. Overall rating 3.5/5.

This is book written by an Anglo Saxon author who apparently spent some years in the recent past in India.Amazing knowledge of the Indian political system and its politicians by an outsider.He shows that intermingling of corruption with fabulous riches, but the corruption is not all theft - many factories, airports and some vast industrial empires were built.India now has at least one maybe two persons on the world’s twenty richest persons list.I visited India twice - once in 1976 and then in 2002. I could never have imagined the fabulous transformation of parts of the country for some people to this type of wealth.Having said that, what I read in the current financial press indicates that India is still a very poor country for many but very rapidly developing.Mr Crabtree has done an eye opening job. Highly recommend to all.

This was an informative and well-written book. I recommend it with a small caveat. I would advise reading a quick Wikipedia entry on modern Indian history (specifically focusing on India's Independence) before picking this book up. At times, I felt a bit bogged down by the political details but thankfully I was reading on my Kindle which allowed easy access to Wikipedia for further reading.This book goes into great detail examining how corruption is deeply embedded in Indian society - especially for the impoverished. When you live so far below the poverty line, you will do what needs to be done to get by.The sections on the billionaires was fascinating to read about. It is surreal to think that these wealthy individuals live in such close proximity to people who live on less than $1/day. It truly emphasized the economic disparity between the rich and poor.

I think this book is an economic chronicle of india’s two decades post the liberalization of 90’s. Whoever reads it , needs to read it again in 2025. Good read, but could have avoided devoting a whole chapter on cricket betting. There are better books to cover that topic. In contrary devoting a chapter on Media influence is a good one.

James superbly examines three foundational forces of India today, that are also quite familiar both globally and here in the States — a rising and significant inequality of wealth; how the rich have become super rich; and the role of “crony capitalism” is making it so. He provocatively in ways I had not considered compares India today with our own experience in our “Gilded Age” of Rockefeller’s and Carnegies in the 19th century. Then as now, he underscores “the speed which they built their fortunes and lack of conscience they displayed while doing so.” But, then as now, it ushered in a new political era of progressives who were willing to reign in corruption and excess foundational to America in the next century.Telling the near spy-novel like rise of remarkable, little known in the West figures who built empires especially in areas of land, natural resources and government contracts and licenses — it was clear why a symbiotic relationship with the myriad of national and local government and politics exists. He is even handed with a reporters eye on the rise of Modi and his efforts to tame corruption and shift India into a new era, and the forces and personal challenges that weigh heavily upon it. He provocatively suggests — as the likes of Samuel Huntington, Robert Kiltgaard and Gunnar Myrdal have — that some corruption is useful as it greases the skids to get things done where infrastructure is poor and access to capital low.

Intense and agile starts very well but becomes a bit tiring towards the end when the chapters are all about politics with too many names and examples about the same stuff. A good portrait of India and an interesting reference to other emerging markets.