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By the mid-19th century the British colonial state introduced liberal education to India. Amongst various disciplines, political economy illustrates the concerns of the colonial state with the education of Indians, and its anxiety with quelling political discontentment. The emerging Indian nationalist intelligentsia also utilized ideas from classical political economy, first taught in educational institutions, to critique colonial policy and proposed the development of “Indian Economics”, suited to national economic interests. This paper explores the development of political economy as a specific knowledge form in Calcutta University and Bombay University, and its connection with colonial educational policy^.

This study relies primarily on university records and the proceedings of the Education Department to bring out the politically sensitive nature of the teaching of economics in colonial India.

The study finds that political economy grew from being a minor part of the overall university syllabi to becoming part of the first university departments created in early-20th-century India. The government and nationalist forces both found the discipline to be relevant to their respective agendas. The circulation of knowledge theoretical framework is found to be relevant here.

The history of political economy in Indian universities, especially during the 19th century, has not been dealt with in any detail. This study tries to fill this gap. The close connection between politics and the teaching of economics has also not been studied closely, which this paper does.

We investigate the internationalization pattern and performance of Indian firms. We first discuss the regionalization trend evident in the internationalization of Indian manufacturing and service firms over time. Next, we empirically test the impact of degree of internationalization on firm financial performance of Indian firms. We also test the moderation effect of business group affiliation on the internationalization–performance relationship. We find that Indian outward foreign direct investment has been shifting from developing to developed economies over time. Also, firm performance of Indian firms is positively related to the degree of internationalization and that service firms profit more than manufacturing firms from internationalization. Business group affiliation reduces the positive effect of internationalization on firm performance.

The purpose of this paper is to validate the theoretical finding that digital MNEs avoid physical presence norms of permanent establishment and royalty characterization rules for business and royalty taxation, respectively, to escape tax incidence in the market economy, using information, communication and technology features and transfer pricing (TP) manipulations.

Multiple case studies of MNEs from technology sector, based on judicial decisions in 141 cases, over taxability of profits earned from Indian economic activities. Additional in-depth case study of the Uber Group to study the tax avoidance structures under platform economy, by routing of Indian profits through The Netherlands, a tax haven.

The study finds a significant number of digital MNEs earning profits from India and avoiding tax by defying physical presence and royalty characterization. In majority of the cases, demand-side business activities are discharged through incorporating and remunerating affiliates at cost plus low markup, thus avoiding tax incidence, using TP manipulations under the arm’s length principle applied by governments for benchmarking the intragroup transactions of the MNEs.

The research findings validate the view that digital features promote tax avoidance in the market economy.

The originality of the study lies in the validation of profit shifting through digital features from the developing market economy and portending that digital MNEs defy physical presence to avoid business taxation through TP manipulations.

Purpose – This chapter illustrates how an economic sociology of work exposes the deeply embedded nature of the informal economy and the social and political lives of its growing mass of unprotected workers under globalization. In particular, the premises of economic sociology offer a comprehensive definition of the informal economy that I term, “relational.” In contrast to definitions based on modernization and neoliberal assumptions of isolated economies, relational definitions of the informal economy expose the structures, networks, and political institutions that intertwine informal workers with the formal economy, society, and the state. Operationalizing the relational definition in labor surveys ensures the inclusion of previously invisible informal workers, especially those who operate at the intersection of the informal and formal economy. As well, it ensures the collection of data on the precise ways in which informal workers are socially and politically embedded, including their collective action efforts, the meaning they attach to their labor, and the social networks that determine their life chances.

Methodology – To illustrate this point, I apply a relational definition of informal labor to the case of India, using the National Sample Survey on Employment and Unemployment, as well as findings from interviews with organized informal workers.

Findings – By doing so, I provide an internationally comparative measure of India's informal workforce, illustrate informal workers’ social conditions relative to those of formal workers, highlight the expansion of the informal workforce since the government enacted liberalization reforms, and expose the unique political action strategies Indian informal workers are launching against the state.

Implications/Originality – These findings help us understand Indian informal workers in an internationally comparative context, yielding empirical insights on their social conditions and political organizations for the first time. As well, they call for an important refinement to existing definitions of the informal economy that to date have relied only on Latin American and African experiences.

Human Resources Management (HRM) plays a crucial role in fostering sustainability and operational efficiency in Indian manufacturing firms. This study examines the impact of recruitment, training, and performance appraisal on the adoption of digital circular economy models, identifying gaps in current HRM practices and their impact on firm performance.

HRM practices significantly impact the adoption of a digital circular economy in Indian manufacturing firms, according to a study involving 256 employees across 17 firms, using structural equation modeling to test hypotheses and provide insights.

HRM practices in Indian manufacturing firms significantly contribute to the adoption of the digital circular economy, but the influence of compensation, rewards, and employee engagement on circular economy adoption needs to be better aligned with sustainability goals.

The research has limitations in terms of limited sample size and focus on specific HRM practices, which may not fully represent the diverse landscape of Indian manufacturing firms and omit factors such as organizational culture and external environment.

HRM practices are significantly impacting the Indian economy, with a focus on enhancing sustainability and operational efficiency in manufacturing firms.

The purpose of the paper is to examine the role of institutional distance as a determinant of outward foreign direct investment (OFDI) from India. The study combines a nuanced view of institutional distance, with traditional location factors to analyze Indian OFDI flows to developed and emerging economies (EEs) during the period 2009 to 2017.

The paper employs fixed effects panel regression model on an unbalanced panel data set.

The findings suggest that India's OFDI is undeterred by the isomorphic pressures caused by regulatory and normative institutional distance, but cognitive institutional distance acts as a deterrent in developed economies. Indian MNEs engage in institutional arbitrage as they simultaneously engage in strategies of institutional escapism and institutional exploitation. The study also finds that emerging economies have emerged as an important destination for strategic asset seeking FDI, in addition to developed economies.

The findings of the study present important implications for policymakers and corporate managers. For policymakers, the study points toward the need for improving the general business environment at home to prevent escapist OFDI and trade enhancement as a tool to overcome cognitive barriers and behavioristic stereotypes. For corporate managers, the study's findings underline the importance of adopting different strategies for dealing with different isomorphic pressures in developed and emerging economies.

The study adds value to the sparse literature using the IBV in the emerging markets context, to supplement and enrich existing theoretical frameworks. It is a pioneering study in its use of institutional distance as an explanatory factor for Indian OFDI and provides evidence of institutional arbitrage.

Indian Ocean region (IOR) is a coveted maritime space in the international arena because of its unique positioning and importance. The third largest water body on the planet Earth holds great economic significance and sustains the livelihood of its people. While the blue economy (BE) approach gains momentum worldwide, following this for the responsible consumption of ocean resources, India too pursues and has developed a draft policy on the BE. Maritime and coastal tourism is one of the prime areas contributing to this framework of BE. This study will explore the advances in BE prospects of Indian Tourism and highlight the elements of branding a BE Destination in the region. India being a key player and an emerging economy, situated at a transitional maritime position is strategic in nature. India as a country is a strong contestant for the title of tourism hotspot but with its highly regarded destinations, it surprisingly attracts fewer tourists. The paper examines secondary sources of data and attempts to review the untapped potential of the brand India in this vast maritime space. There is enough literature available on destination branding but this paper stands out with its unique and innovative approach that combines economic aspects with maritime sustainability and surely add value to this field of knowledge. This chapter presents the recommendations for BE-led repositioning of India tourism in the IOR. To achieve higher productivity and sustainability, a socioeconomic transformational shift is required in the segments of the tourism sector.

The purpose of this paper is to take a dispassionate look at the performance of the Indian economy in the light of its recent growth rate acceleration. After 2000, it recorded several years of vertiginous gross domestic product (GDP) growth rate, which made some think that the growth trajectory of the economy is shifting upwards. A careful data analysis reveals that growth optimism is misplaced. There are several areas of the economy that have suffered from limitations and long‐term neglect of the policymakers. The paper clearly and concisely enumerates them. What is disconcerting is that these long‐term weaknesses were not addressed and are still persisting. Sluggish and tardy reform implementation is one of the serious bottlenecks. In addition, in 2008, myriads of domestic and global factors coalesced to drive GDP growth rate sharply down.

This paper carefully analyzes the current economic data to examine whether the recent GDP growth rate achievement can be sustained.

The principal inference of this paper is that the growth spurt of the Indian economy is unsustainable. Although the economy has a great deal of potential, expectations of a China‐like growth in the foreseeable future are totally unrealistic.

The paper proposes a pragmatic plan to break out of this economic quagmire. The value of the paper lies in its succinct and objective analysis of the Indian economic performance, its recent past and the immediate future. Without overlooking its recent achievements, the paper provides a credible vision of the future performance of the Indian economy.

Presentation of the different industrial carbon linkages of India. The purpose of this paper is to understand the direct and indirect impact of these industrial linkages.

This study uses a hypothetical extraction method with its various extensions. Under this method, different carbon linkages of a block are removed from the economy, and the effects of carbon linkages are determined by the difference between the original and the post-removal values. Energy and non-energy carbon linkages are also estimated.

“Electricity, gas and water supply (EGW)” at 655.61 Mt and 648.74 Mt had the highest total and forward linkages. “manufacturing and recycling” at 231.48 Mt had the highest backward linkage. High carbon-intensive blocks of “EGW” plus “mining and quarrying” were net emitters, while others were net absorbers. “Fuel and chemicals” at 0.08 Mt had almost neutral status. Hard coal was the main source of direct and indirect emissions.

Net emitting and key net forward blocks should reduce direct emission intensities. India should use its huge geographical potential for industrial accessibility to cheaper alternative energy. This alongside with technology/process improvements catalyzed by policy tools can help in mitigation efforts. Next, key net-backward blocks such as construction through intermediate purchases significantly stimulate emissions from other blocks. Tailored mitigation policies are needed in this regard.

By developing an understanding of India’s industrial carbon links, this study can guide policymakers. In addition, the paper lays out the framework for estimating energy and non-energy-based industrial carbon links.