07 – Money Matters: The Dynamics of Campaign Finance and Politics-Business Relations in India
This panel explores the evolution of politics-business interaction in India in the light of the growing costs of election campaigns. Over the past two decades the fusion of economic and political power has intensified, with significant implications for the nature of Indian democracy. Politicians have become wealthier and more likely to have business backgrounds, suggesting the oligarchization of India’s democracy. This panel delves into various aspects of this phenomenon, bringing together scholars from different disciplines studying different aspects of this important trend. The panel will involve analyses of the causes of this oligarchization process, such as analysis of the drivers of increased campaign spending. Contributions will look at how economic conditions - such as the dominance of the state in providing or withholding economic opportunities - foster the intertwining of business interests with political power. We also invite contributions about the rise of prominent business conglomerates, the role of state intervention, and the broader economic and political risks associated with these dynamics. Drawing together theoretical insights, fieldwork-based studies as well as quantitative analyses, this panel aims to discuss the implications of evolving business-politics interaction for economic policy, democratic accountability, and social equity.
Convenors
Dr Vignesh Rajahmani - Professor Ward Berenschot -
