Dalit Capital and Markets: A Case of Unfavourable Inclusion

The nature of our constitutional order is changing from a nation-state into a market-state. The market-state seeks to acquire legitimacy not as a provider or distributor of welfare goods and economic resources but strives to provide an enabling framework for the society to secure opportunities and better goods and services. As markets have acquired a pre-eminent institutional space, this article seeks to understand the aspirations of Dalits to enter markets as owners of capital and trade in diverse goods and services. The article examines the relationship between caste and capitalism, and argues that the current relationship of caste and capitalism does not operate on the notions of merit and efficiency. Markets are embedded in social relationships and, therefore, are more prone to be influenced by social customs rather than ideas of modern contracts, merit and efficiency. Drawing upon interviews with several successful Dalit entrepreneurs and their experiences, the article finds ‘unfavoured’ or ‘adverse’ inclusion of Dalits in the markets caused by social networks populated and controlled by upper-caste business peers