This book presents a historical account of the relationship between state and capital from independence to the liberalization episodes of the 1980s and after. It provides a focused analysis of the organization of business houses, corporate governance structures, labour laws, and the institution of the family and personal laws, and explains the institutional basis of regional differences in accumulation and uneven development in independent India. By addressing questions of agrarian, capital, technology and fiscal constraints which were characteristic of the economy at independence, this book provides an insightful study of the political economy of the role of changing social relations in India after independence.