Finance Capital and Contemporary Financialization with Special Reference to India

Abstract

The concept of financialization has become increasingly important in the context of economic liberalization programme since 1970s in various parts of the world which include the global South. In India such programme was initiated in 1991 and which is still continuing since then. The proposed paper studies the complex dynamics of finance capital and neoliberal financialization, particularly in emerging economies like India. It will address the structural transformations in advanced and emerging markets during the post-crisis era, supported by empirical evidence from the Indian economy. Additionally, the paper explores the concept of financial subordination and its impact on deepening financialization in emerging markets. Finally, it investigates the complex and contradictory relationship between the growth of finance and productive labour processes, highlighting the dialectical relation between financial expansion and labour exploitation