ON THE LAWS OF CONCEN FRA^IION 13 In short, the Marxian laws of concentration and centralization of capital would manifest themselves in a complex fashion in an underdeveloped capitalism. It is futile to examine only the share of assets, sales or production of a few industrial units, somewhat arbitrarily chosen, and to pass judgment on the validity or otherwise of the Marxian laws by comparing variations of these shares over a period of time. Lenin's two laws of uneven development—uneven development of capitalism and uneven development under capitalism21—impart an additional degree of complexity to the process of capital accumulation in such an economy. As for India, it can be said in passing that there are enough indications of concentration and centralization taking place. The well-documented fact of steady (though uneven) growth of the so-called large business houses points to the joint effect of self-expansion of individual capitals as well as attraction and replusion of constituent parts of social capital. We are not aware of any attempt so far to isolate various components of this joint effect. However, it is quite evident that the credit system is well developed in India to facilitate centralization of capital. Commercial banks mobilize money resources that are scattered throughout the economy and put them at the disposal of big capitals. Such institutions as the Industrial Credit and Investment Corporation of India (ICICI), Industrial Finance Corporation (IFG), the Life Insurance Corporation of India (LIC), the Industrial Development Bank of India (IDBI), and the Unit Trust of India (UTI) have come lately into the picture to extend a helping hand to centralization of money capital through underwriting of new market issues, direct investment and credit, which are enjoyed mostly by bigger capitals. Two business houses, namely, the Tata and Biria, account for over one-fifth of LIG's investments in industry which was Rs 3222 million in 1976-77. Since its inception in 1964, IDBI has given "normal direct industrial assistance" to the tune of about Rs 10,000 million upto 1977-78, of which over 90 percent was in the size class of Rs 5 million or more, and presumably bigger capitals have taken advantage of the assistance. Year-wise breakdown of IDBI assistance is given in Table I. Marx refers to the formation of joint-stock companies, and amalgamation of existing companies as the specific means of centralization of productive capital, "the means of production". Once he remarked: "The world would still be without railways if it had to wait until accumulation had got a few individual capitals far enough to be adequate for the construction of a railway. Centralisation, on the contrary, accomplished this in the twinkling