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Ideas of India
Sukrit Puri on the Entanglement between Business and Politics in India
Oct 3, 2024
Sukrit Puri, a PhD candidate in political science at MIT and Elinor Ostrom fellow, dives into the entanglement of business and politics in India. He discusses how family-run firms differ from management-led businesses in their political engagement and strategic decisions. The conversation highlights the unique relationships family firms maintain with political entities, revealing distinctions in political donations and the impact of new electoral financing schemes. Puri sheds light on the broader implications of these dynamics for corporate responsibility and market behavior.
57:59
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Quick takeaways
- Family firms in India show unique political behavior, often donating to unviable parties due to strong kinship and caste ties.
- Political donations from family firms are driven by personal relationships rather than profit motives, reflecting social responsibility values.
Deep dives
Political Influence of Family Firms
Family firms in India exhibit distinct political behaviors compared to non-family businesses, displaying loyalty to specific political parties, even those that are not currently in power. Research shows that these firms are more likely to make political contributions to parties with little chance of winning, which defies conventional expectations of strategic political giving. This divergence is attributed to long-standing familial connections, caste networks, and kinship ties that influence their political engagement. The study highlights how family firms often prioritize relational dynamics over economic opportunism, leading to a unique approach to political donations that focuses on maintaining social ties.
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