India’s vast and complex economy can be most productively analyzed through a range of interdisciplinary methodologies. Roy and Swamy identify themselves as “economists, not legal scholars” (108). Yet, all the major topics about India’s post-independence economy examined in this thoughtful and informative volume are linked to the law codes inherited in 1947 from the British colonial government and then slowly adapted by India’s policymakers, judges, bureaucrats, and businesspeople during the subsequent seven decades (to June 2020). Although not titled as such, this is the second volume in a series; each thematic chapter begins where the co-authors’ highly regarded earlier volume, Law and the Economy in Colonial India (Chicago, 2016), concluded.

The book comprises a succession of impressive analytical narratives about selected major aspects of India’s economy on the basis of three broadly defined phases: (1) “developmental socialism” from roughly 1950 to 1985 (11); (2) the strengthening of hitherto excluded sectors...

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