14 SOCIAL SCIENTIST
TABLE I
IDBI INVESTMENT IN INDUSTRY (IN RS MILLION)
Tear Total normal direct Assistance in the size dasi of
assistance to industry Rs 5 million and above
1971-72 647 598.5
1972-73 6-31 533.8
1974-75 783 710.2
1975-76 1164 1075.5
1976-77 2299 2202.4
1977-78 2230 2145.3
1964-1978 9694 9267.5
SOURCE: Annual Reports of IDBI
of an eye, by means of joint stock companies." In India the same process is effected also through inter-corporate investments, joint directorships and similar other means. Sometimes, centralization occurs in the sphere of commodity capital: a bigger company gets the product made by smaller capitals and sells it in the market under its own brand name, and thereby it expropriates the surplus value appropriated by the latter.
Briefly, in a concrete situation of underdeveloped capitalism as in the Indian economy, concentration and centralization of capital can occur in a number of ways, and in a complex fashion. This area of research yet remains an uncharted territory.
i Karl Marx, Capital, Moscow, Progress Publishers, 1965, Vol 1, p 626.
8 Ibid,? 7 63.
3 Ibid,
4 Marx, Capital, Moscow, Progress Publishers, 1957, Vol 2, Part I, specially p 61.
5 Ibid, p 357. Emphasis added.
6 Ibid, p 100. Emphasis added.
7 Ibid, pp 355-356.
8 Marx, Capital, Moscow, Progress Publishers, 1966, Vol 3, Part II.
9 Marx, Capital, Vol 1, p 625.
10 Marx, Capital, Vol 3, p 241. Emphasis added.
11 Marx, Capital, Vol 1, pp 624-625. Emphasis added.
12 Ibid, p 625. Emphasis added
1-^ Ibid, p591.
14 Ibid, p 625.
15 Ibid.
18 Ibid.
17 Ibid, pp 625-627.
18 Ibid, p 625.
19 Ibid, pp 626-627
20 Marx, Capital, Vol 3, pp 241-242.
21 Ranjit Sau, Unequal Exchange, Imperialism and Under development, Calcutta, Oxford
University Press, 1978, p 128.