Capitalism with Indian Characteristics with Sukrit Puri

As the largest country, and soon to be the third-largest economy in the world, India demands the attention of business leaders, policymakers, and academics. Political economists seek to describe how the nature of capitalism varies across different settings—the US is more market-oriented, Germany more coordinated, China state-led, etc. What unique features characterize capitalism in India? Sukrit Puri (MIT) highlights the formal institutions of the state, and the informal institutions of society that combine to create a distinct political and social environment that businesses must navigate.

Tuesday, February 11: 12-1 pm CT

Session 1: The State

This session analyzes the formal institutions that underpin India’s political economy beginning with the federal structure, where ongoing tussles between the Center and the states influence the balance of economic authority. Next, India’s fiercely competitive elections, which create both opportunities for improved governance and risks of policy volatility. Finally, the country’s bureaucracy, celebrated as a “steel frame” that outlasts shifting political cycles, but which operates with its own logic of incentives and sanctions.

Thursday, February 13: 12-1 pm CT

Session 2: Society

The lived reality of doing business in India often relies on informal, culturally-grounded institutions. This session first covers how caste, kinship, and religious networks shape business in India, by operating as sources of trust and parallel enforcement mechanisms that supplement or bypass weak formal institutions. Second, how the family firm, which dominates the Indian corporate landscape, plays a key role in blending social identity with corporate strategy, which influences broader economic and political patterns.

is a Ph.D. candidate in Political Science at MIT, specializing in Political Economy and Quantitative Methods. He studies business and politics in emerging economies, and is writing a dissertation about family firms in India. Prior to MIT, he graduated with Honors in Economics from Princeton University, and worked as an investment analyst at Goldman Sachs.

HYBRID EVENT
- In-person location: Harper Center - Room C02 (5807 S. Woodlawn Ave)
- Livestream also available

This event will take place over a two-day period. Please ensure you have registered for each day separately. We look forward to seeing you both days of our event.

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Please be sure to read the notes below for important information regarding attendance at this event.

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Doors will close 5 minutes before the event. You may be unable to enter the venue after the doors are closed.

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Disclaimer: Students should never miss class to attend optional programming. The Deans’ Office will not support requests for absences due to participation on a trek, event, conference, or trip as excused.

Host or Publisher University of Chicago Booth School of Business - Stigler Center