The Political Economy of Hindu Nationalism: From V.D. Savarkar to Narendra Modi

In May 2014 India’s stock markets climbed to a record high, anticipating the victory of the Bharatiya Janata Party and its charismatic leader, Narendra Modi. However, the first economic decisions of Modi’s government did not incite a market revolution (though it has only been few months since its inception). This, however, is not surprising if one traces the Hindu nationalists’ changing views on economy throughout the last decades. The main inspirations of BJP’s ideology have been its mother-organization (RSS), and two earlier Hindu nationalist parties: Bharatiya Jana Sangh and Hindu Mahasabha (mostly through ideas of its leader, V.D. Savarkar). After briefly describing the views of all of these bodies, I will map out the main issues in the Hindu nationalist approach towards economy. Finally, I will try to show how the present government of Narendra Modi is trying to deal with these discrepancies.