35 years of critical inquiry into India’s political economy in the context of globalisation, liberalisation

By Harsh Thakor*

This year marks the 35th anniversary of Aspects of India’s Economy, a journal published by the Research Unit for Political Economy. Since its inception, the journal has focused on offering critical analyses of the Indian political economy, particularly in the context of globalisation and liberalisation. Over the years, it has consistently examined various structural and policy-related developments in the Indian economy through a Marxist-Leninist lens, while also being noted by some non-Marxist readers for its empirical rigour.

The inaugural issues of Aspects examined the liberalisation process and its socio-economic effects, such as rising unemployment, weakening of trade unions, expansion of contract labour, increasing income inequality, and reduced access to welfare. These were supported with statistical data and case studies. The journal has aimed to present the perspective of the working population, addressing themes such as the impact of policy on employment, industrial relations, and resource distribution.

Throughout its publication history, Aspects has addressed topics including India’s economic engagements with global powers, corporate influence in economic policy, and the consequences of privatisation and digitisation. For instance, it examined how COVID-19 lockdown measures affected vulnerable sections of society, the implementation of Artificial Intelligence and digitalisation in labour-intensive sectors, and issues arising from agrarian distress following the Green Revolution and neoliberal reforms.

The journal has also featured in-depth studies on India’s working class, such as labour migration, conditions in sectors like brick kilns, garments, and leather, and the growth of informal and contractual employment. Other issues have explored themes such as the interrelation between political economy and democratic rights, the limitations of the "India Shining" narrative, and responses to global events such as the 2008 financial crisis and the Iraq War.

Several scholars and activists have noted the journal’s contributions to critical economic discourse in India. Despite its limited mass outreach, Aspects has had a sustained presence in intellectual and activist circles.

Articles have become more detailed over time, and issues that once fit in a pocket-sized format have expanded into book-length publications. Some contributors have reflected on the journal’s challenges in reaching a broader audience, particularly in the current political climate, and the constraints posed by the absence of a strong grassroots movement.

Significant issues published by Aspects have included analyses of India’s relations with global economic actors, corporate influence (e.g., the Adani Group), the effects of privatisation, and the ongoing challenges in agriculture and labour. Special editions have addressed international topics, such as the legacy of the Chinese Revolution and the 2003 Iraq War, placing these within broader geopolitical and economic frameworks.

Aspects of India’s Economy continues to serve as a platform for critical research and analysis of India's political and economic landscape.

---

*Freelance journalist

Comments

From plagiarism to proxy exams: Galgotias and systemic failure in education

By Sandeep Pandey* Shock is being expressed at Galgotias University being found presenting a Chinese-made robotic dog and a South Korean-made soccer-playing drone as its own creations at the recently held India AI Impact Summit 2026, a global event in New Delhi. Earlier, a UGC-listed journal had published a paper from the university titled “Corona Virus Killed by Sound Vibrations Produced by Thali or Ghanti: A Potential Hypothesis,” which became the subject of widespread ridicule. Following the robotic dog controversy coming to light, the university has withdrawn the paper. These incidents are symptoms of deeper problems afflicting the Indian education system in general. Galgotias merely bit off more than it could chew.

Farewell to Saleem Samad: A life devoted to fearless journalism

By Nava Thakuria* Heartbreaking news arrived from Dhaka as the vibrant city lost one of its most active and committed citizens with the passing of journalist, author and progressive Bangladeshi national Saleem Samad. A gentleman who always had issues to discuss with anyone, anywhere and at any time, he passed away on 22 February 2026 while undergoing cancer treatment at Dhaka Medical College Hospital. He was 74.

From ancient wisdom to modern nationhood: The Indian story

By Syed Osman Sher South of the Himalayas lies a triangular stretch of land, spreading about 2,000 miles in each direction—a world of rare magic. It has fired the imagination of wanderers, settlers, raiders, traders, conquerors, and colonizers. They entered this country bringing with them new ethnicities, cultures, customs, religions, and languages.

Sergei Vasilyevich Gerasimov, the artist who survived Stalin's cultural purges

By Harsh Thakor* Sergei Vasilyevich Gerasimov (September 14, 1885 – April 20, 1964) was a Soviet artist, professor, academician, and teacher. His work was posthumously awarded the Lenin Prize, the highest artistic honour of the USSR. His paintings traced the development of socialist realism in the visual arts while retaining qualities drawn from impressionism. Gerasimov reconciled a lyrical approach to nature with the demands of Soviet socialist ideology.

Public money, private profits: Crop insurance scheme as goldmine for corporates

By Vikas Meshram The farmer in India is not merely a food provider; he is the soul of the nation. For centuries, enduring natural calamities and bearing debt generation after generation while remaining loyal to the soil, this community now finds itself trapped in a different kind of crisis. In February 2016, the Modi government launched the Pradhan Mantri Fasal Bima Yojana (PMFBY) with the stated objective of freeing farmers from the shackles of debt. It was an ambitious attempt to provide a strong safety net to cultivators repeatedly devastated by excessive rainfall, drought, and hailstorms.

'Policy long overdue': Coalition of 29 experts tells JP Nadda to act on SC warning label order

By A Representative In a significant development for public health, the Supreme Court of India has directed the Food Safety and Standards Authority of India (FSSAI) to seriously consider implementing mandatory front-of-pack warning labels on pre-packaged food products. The order, passed by a bench of Justices J.B. Pardiwala and K.V. Viswanathan on February 10, 2026, comes as the Court expressed dissatisfaction with the regulatory body's progress on the issue.

Unpaid overtime, broken promises: Indian Oil workers strike in Panipat

By Rosamma Thomas Thousands of workers at the Indian Oil Corporation refinery in Panipat, Haryana, went on strike beginning February 23, 2026. They faced a police lathi charge, and the Central Industrial Security Force fired into the air to control the crowd.

From non-alignment to strategic partnership: India's ideological shift toward Israel

By Bhabani Shankar Nayak* India's historical foreign policy maintained a notable duality: offering sanctuary to persecuted Jewish communities dating back centuries, while simultaneously supporting Palestinian self-determination as an expression of its broader anti-colonial foreign policy commitments. The gradual shift in Indian foreign policy under Hindutva-aligned governance — moving toward a strategic partnership with Israel while reducing substantive engagement with the Palestinian cause — raises legitimate questions about ideological motivation and geopolitical consequence.

Development vs community: New coal politics and old conflicts in Madhya Pradesh

By Deepmala Patel* The Singrauli region of Madhya Pradesh, often described as “India’s energy capital,” has for decades been a hub of coal mining and thermal power generation. Today, the Dhirouli coal mine project in this district has triggered widespread protests among local communities. In recent years, the project has generated intense controversy, public opposition, and significant legal and social questions. This is not merely a dispute over one mine; it raises a larger question—who pays the price for energy development? Large corporate beneficiaries or the survival of local communities?

Search This Blog