From Merchants to Markets: The Untold Business History of India

Dr. Tirthankar Roy, Professor of Economic History at the London School of Economics and Political Science, joins us to share key insights from his acclaimed book, A Business History of India: Enterprise and the Emergence of Capitalism from 1700. In this illuminating episode of Business Talk, Prof. Tirthankar Roy, takes us on a sweeping 300-year journey through India's entrepreneurial past. Drawing from his acclaimed book, A Business History of India: Enterprise and the Emergence of Capitalism from 1700, Prof. Roy explores how Indian capitalism flourished despite scarce capital, powered by social networks, community trust, and geographic advantage. From the cotton trade boom in Bombay and the unique managing agency system pioneered by houses like Tata and Birla, to the transformative role of weak ties in enabling Jamshedji Tata's steel revolution, the conversation uncovers the deep historical roots of India's modern enterprise. Prof. Roy also offers a nuanced reading of the colonial era, challenges the popular "extraction" narrative, and explains how the 1990s liberalization was less a revolution and more a return to India's natural economic instincts, one built on the power of people, mobility, and global integration. This podcast is brought to you by Global Management Consultancy. For more information, please visit www.globalmanagementconsultancy.com. Disclaimer: A. The background music used in this video is the property of its respective developer and is protected by Copyright. Although it is a free version, Business Talk, Global Management Consultancy and Deepak Bhatt do not hold the rights to this music. B. Dr. Tirthankar Roy offered thoughtful perspectives from his acclaimed book, “A Business History of India: Enterprise and the Emergence of Capitalism from 1700”, in his conversation on the Business Talk podcast channel. The uploaded video contains copyrighted material; therefore, any modifications to graphics, music, or the presence of the author or host are strictly prohibited.