Bio capital in India Essay Example | Topics and Well Written Essays - 3000 words

Bio capital in India - Essay Example There is a reconfiguration of the relationship of imperial power to colony into one of the vendors to the client. 1.3 Indebtedness Indebtedness is found at all levels and especially in interactions between corporations and their investors (1). Even entrepreneurs are indebted to the venture capitalists and are forced to relinquish control over their companies. Consumers also remain indebted to the biotechnological and pharmaceutical industries for undertaking high-risk, decade-long drug development ventures for therapies for otherwise untreatable diseases. This indebtedness is the symbolic capital for the industry. Thus indebtedness operates at multi-level even in India, observes Rajan. When India was in the midst of a crisis in 1991, it was suggested that India take further loans from IMF which would put India into a further state of indebtedness. The terms of the loan made India more fiscally responsible for the debts. A stage was thus created for moral reforms. Chapter 2 2.1 Biocap ital in India The strategic articulations of India do not resist the global orders of techno-scientific capitalism. Rajan has tried to establish a relationship between global capital and local forms of indebtedness. He has shown the ways in which touches down in different contexts in India. ICICI Knowledge Park in Andhra Pradesh and the Genome/Wellspring Hospital, Mumbai are the two locations where Rajan concentrated as both there are institutions and they represent the political ecologies within which they are situated.