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A colorful and revealing portrait of the rise of India’s new billionaire class in a radically unequal society India is the world’s largest democracy, with more than one billion people and an economy expanding faster than China’s. But the rewards of this growth have been far from evenly shared, and the country’s top 1% now own nearly 60% of its wealth. In megacities like Mumbai, where half the population live in slums, the extraordinary riches of India’s new dynasties echo the Vanderbilts and Rockefellers of America's Gilded Age, funneling profits from huge conglomerates into lifestyles of conspicuous


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Book ID Asin: B077LTDPJQ
Book Title: The Billionaire Raj: A Journey Through India's New Gilded Age
Book Author: James Crabtree
Book Format and Price:
Book Format Name: Kindle
Book Format Price: $7.99
Book Format Name: Audiobook
Book Format Price: $0.00
Book Format Name: Hardcover
Book Format Price: $19.99
Book Format Name: Paperback
Book Format Price: $14.56
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Book Category: Books, Politics & Social Sciences, Politics & Government and unknown
Book Rating: 243 ratings

The Billionaire Raj: A Journey Through India's New Gilded Age by James Crabtree Book Review

Name: Mal Warwick
Rating: 5.0 out of 5 stars
Title: InsightfulportraitofthecorruptionattheheartofIndiaseconomy
Date: Reviewed in the United States on September 5, 2018
Review: The Biltmore Estate sprawls across 8,000 acres in Asheville, North Carolina. With 179,000 square feet, the former residence of George Vanderbilt is the largest private home in the United States. Few private residences anywhere rival the sheer ostentation of the Biltmore Estate.The most glaring exception is the home of Indian billionaire Mukesh Ambani. Antilia rises 160 meters (525 feet) above South Mumbai and encompasses 400,000 square feet. Ambani built the 27-story home at an estimated cost of nearly $2 billion. A staff of 600 keeps it running round the clock. Antilia thus exemplifies the over-the-top excess on display in contemporary India. But it's merely one of innumerable examples of the lifestyle of so many of the country's more than 100 billionaires.Little wonder, then, that British journalist and strategic analyst James Crabtree would characterize the era as "India's New Gilded Age" in The Billionaire Raj. The Gilded Age analogy is apt, and Crabtree builds on it throughout his thoroughly researched account. The focus in his book is on the men who dominate India's industrial economy and the politicians who have enabled them. Above all, The Billionaire Raj is a story of corruption. The collusion between government and industry in 21st-century India mirrors that in late 19th-century America before the Progressive Era began to put the brakes on. Prime Minister Narendra Modi had been widely expected to play a role much like that of President Theodore Roosevelt in reining in the super-rich. To be fair, the most excessive examples of corruption do seem to have been eliminated. But the economic reforms long expected from Modi have yet to materialize.Is India's new Gilded Age a temporary condition?Crabtree notes that "the Indian subcontinent had been the planet's largest economy for most of the last two millennia." The Industrial Revolution changed that by shifting much of the planet's wealth to the West. However, in the 21st century, the tide is turning back to Asia. Crabtree speculates that either India or China might rise to the top of the world's economic heap by the middle of this century. He seems to be betting on India to win this race. But the problems he highlights in The Billionaire Raj cast doubt on this speculation. The country's new Gilded Age does not lay a firm foundation for continuing rapid growth.Economic inequality and its consequencesOne of the country's greatest challenges is economic inequality. "India should now rightly be viewed alongside South Africa and Brazil as one of the world's least equal [large] countries," Crabtree writes. While India's billionaires live in sybaritic splendor, hundreds of millions of people languish in poverty-stricken rural communities and teeming slums. (Reliable statistics about poverty in India are hard to come by. Sources differ widely. But it's likely that at least half of the country's population, or 600 million people, live on less than $2 per day.) As the country's resources shift upwards to the fraction of 1% at the top of its pyramid, the untapped talent and energy of the poor remain a drag on India's potential. It's hard to imagine that changing. After all, "only one percent of Indians pay any income tax at all."Colorful portraits of the country's nouveau riche billionairesIn The Billionaire Raj, you'll meet some of the most colorful characters to be found anywhere. Most are industrialists. Some are politicians. Some are both. You'll meet the "Branson of Bangalore" and the movie star who ably managed a state of 60 million people for decades. (She was so beloved that some of her followers committed suicide when she died.) And you'll meet the airline and liquor tycoon who lives in exile in England to escape prosecution for debts he left when his empire collapsed at home. None of these are people you or I might ever have the opportunity to meet. But Crabtree got to know them.About the authorFrom 2011 to 2017, James Crabtree was the Mumbai bureau chief for the Financial Times. At this writing, he is an associate professor at the Lee Kuan Yew School of Public Policy in Singapore. Prior to entering journalism, Crabtree was a senior policy advisor in the UK Prime Minister’s Strategy Unit under Tony Blair and Gordon Brown.

Name: Christopher M. Schroeder
Rating: 5.0 out of 5 stars
Title: OneofthemostimportantbooksonIndiatoday
Date: Reviewed in the United States on July 23, 2018
Review: James superbly examines three foundational forces of India today, that are also quite familiar both globally and here in the States — a rising and significant inequality of wealth; how the rich have become super rich; and the role of “crony capitalism” is making it so. He provocatively in ways I had not considered compares India today with our own experience in our “Gilded Age” of Rockefeller’s and Carnegies in the 19th century. Then as now, he underscores “the speed which they built their fortunes and lack of conscience they displayed while doing so.” But, then as now, it ushered in a new political era of progressives who were willing to reign in corruption and excess foundational to America in the next century.Telling the near spy-novel like rise of remarkable, little known in the West figures who built empires especially in areas of land, natural resources and government contracts and licenses — it was clear why a symbiotic relationship with the myriad of national and local government and politics exists. He is even handed with a reporters eye on the rise of Modi and his efforts to tame corruption and shift India into a new era, and the forces and personal challenges that weigh heavily upon it. He provocatively suggests — as the likes of Samuel Huntington, Robert Kiltgaard and Gunnar Myrdal have — that some corruption is useful as it greases the skids to get things done where infrastructure is poor and access to capital low.

Name: California Kid
Rating: 5.0 out of 5 stars
Title: GallopingGatsbyesqTalesfromIndia
Date: Reviewed in the United States on July 23, 2018
Review: Crabtree knows how to tell a story, and his book is riddled with details of unrivaled access to some of the richest Bollygarchs from India. Humorous and deftly written, he takes us inside the homes, jets, and boardrooms of the tycoons steering (and sometimes running aground) one of the fastest growing economies. For anyone who wants to understand the flamboyant corners of India and the extreme disparities we might learn to probe and question, this book is a must. Rather than an ode to the high growth promise of another emerging giant Crabtree pokes holes at how this engine has left many behind, stuck far below the glass towers, and beyond the tinted windows. An important overview by someone intimately familiar with India, but also someone also not hypnotized by its magesty.

Name: Luciana Russo Vichino
Rating: 3.0 out of 5 stars
Title: Interestingreading
Date: Reviewed in the United States on January 26, 2019
Review: Intense and agile starts very well but becomes a bit tiring towards the end when the chapters are all about politics with too many names and examples about the same stuff. A good portrait of India and an interesting reference to other emerging markets.

Name: Amazon Customer
Rating: 4.0 out of 5 stars
Title: Indiabetween20002017
Date: Reviewed in the United States on January 18, 2019
Review: I think this book is an economic chronicle of india’s two decades post the liberalization of 90’s. Whoever reads it , needs to read it again in 2025. Good read, but could have avoided devoting a whole chapter on cricket betting. There are better books to cover that topic. In contrary devoting a chapter on Media influence is a good one.

Name: Beth Birnbaum
Rating: 5.0 out of 5 stars
Title: Truestorybutunbelievable
Date: Reviewed in the United States on November 29, 2018
Review: Important to know as we descend into oligarchy to see how entitled celebrity works

Name: sofia
Rating: 5.0 out of 5 stars
Title: Indiatoday
Date: Reviewed in the United States on April 26, 2019
Review: It gives you a clear picture of Indian politics in a very interesting way. It is very pleasant to read. Highly recommend it.

Name: Natalia
Rating: 5.0 out of 5 stars
Title: MustreadtounderstandthenewnewIndianeconomy
Date: Reviewed in the United States on October 6, 2018
Review: Incredible. Very well written. Learned a lot about India as an Indian

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