The Billlionaire Raj
India is now the world’s fastest-growing economy. It is about to become the third-largest economy — at least in terms of purchasing power dollars if not yet real ones. Foreign investors are rushing in. In The Billionaire Raj, James Crabtree has written a compelling guide to what awaits them. — Read the complete FT review
Can one of the most divided nations on the planet become its next superpower? James Crabtree reveals the titans of politics and industry shaping India in a period of breakneck change - from controversial prime minister Narendra Modi, victor in the largest election in history, to the leading lights of the country’s burgeoning billionaire class.
While ‘King of the Good Times’ Vijay Mallya languishes in exile in Britain, other major ‘Bollygarchs’ prosper at home despite a series of scandals. Issuing jewel-encrusted invitations to their children’s weddings, these tycoons exert huge power in both business and politics.
But India’s explosive economic rise has driven inequality to new extremes. Millions remain trapped in slums and corruption is endemic. Reformers fight to wrest the nation from these dark forces, leaving its fate poised between that of a prosperous democratic giant and a saffron-tinged version of Russia.