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"This book charts the emergence of India onto the global economic stage. In the 1990s, Indian policymakers, politicians, and private sector actors were wary of the global world. By 2015 trade constituted half of India's GDP and India had become an integral part of the world order. Indian policymakers negotiate strongly at the global level and Indian companies have moved into new markets and formed new global alliances. Yet, India's economic rise at the global level was not inevitable. The process by which India is transforming is the focus of this book. I explore the economic rise of India through the actions of domestic state and private actors, who have changed what they want and how they mobilize in a very short span of time. Underlying this global emergence is a quieter revolution represented by changing trade capacities and private sector reform and transformation. The transformations described in this book have gone deep, creating Indian consent and appetite for globalization. Scholars and analysts have to document this changed reality even if they are ambivalent about the effects of India's ongoing reform trajectory, as I am"--

India's political economy and economic policies can no longer be understood in a purely domestic-oriented or closed economy framework. This paper offers an "India in the world" framework that analyzes how traditional borders of domestic political economy and international politics interact in shaping domestic policy and political economy. In contrast to existing political economy approaches on India, such a framework pays attention to the changing nature of domestic political economy but also how international factors affect and shape domestic imperatives and goals. Simultaneously, domestic developments have important global consequences in terms of increasing (or decreasing) global attention and external economic flows to India, which must be attended to in understanding India's domestic political economy. I also suggest that the global world is not only a set of exogenous structures and constraints, but rather, the changing global order is deployed and used by state actors to refurbish their political and state power to achieve both domestic and global aims. However, if state actors fail to renew the domestic sources of growth or contribute to crony capitalist or debt-laden domestic growth, then, even attending to global alliances may fail to renew the economic sources of state power and create serious contradictions in India's domestic and global strategies despite new realignments favoring India at the global level. These ideas help us understand Modi regime's political economy in a new way.

The liberal trade order is in crisis. I argue that the origins of the current crises lie in the underlying tension which exists in the World Trade Organization (WTO), magnified by a churning in global power dynamics. A dilemma at the heart of the WTO between two important goals of representativeness and effectiveness means that both goals cannot be pursued at the same time. Now, this inherent tension is being magnified by power shifts in the global economy most evident in the rise of emerging powers within the WTO, who demand more representation, and the retreat by the US towards a more inward-looking orientation; both together damage effectiveness. Simultaneously, new powers such as China and India are defending a 'reformed multilateralism' combined with selective protectionism with varying capacity. These shifts are transforming previous 'crises within institutions' into a 'crisis of institutions' at the WTO, wherein the rules of the game, ideas of free trade and the legitimacy of the WTO are under threat. Global trade politics is seeing new coalitions at the WTO, as emerging powers craft their own rise, US defends sovereignty and trade protections, and launches a challenge to China's rise, and some established powers (the EU for example) seek to reform it. The new global trade politics is walking on two uneven legs and creating winners and losers and new ways of managing the transitional trading order as did the creation of the post-world war order.

This article discusses Rudolphs' contribution to the study of India's political economy. Taking off from the ideas they presented in their work, In Pursuit of Lakshmi, the article argues that certain concepts, such as Bullock capitalists, demand-led growth, involuted pluralism, federal market economy and state as a third actor, continue to be critical in understanding India. Through these conceptual innovations, Rudolph and Rudolph not only analyzed India at a given moment but also shaped the larger agenda of debates over India's political economy.

Rob Jenkins, Loraine Kennedy and Partha Mukhopadhyay, eds, Power, Protest and India's Special Economic Zones. New Delhi: Oxford University Press. 2014. 396 pages. ₹1,145.