Investment-induced displacement in central India. A study in extractive capitalism

India’s abundant natural resources are a key feature of its new found status as ‘emerging market’ that attracts foreign investments. As India’s output of these metals and their ores increases, investments pour into India to secure deals over mineral deposits and manufacturing plants. Apart from direct funding for new projects, the new investments pay for a large increase in deployment of security forces, multi-layered ‘briberization’, and ‘protection money’ funding Maoist outfits, in yet another unending war which is fundamentally a resource war around mineral and metal production – primarily steel and aluminum as well as coal and water. In this paper, we examine the mining operations in Central India where Vedanta Resources, a corporation that has become symbolic of neoliberal capitalism in India today, elicits huge new foreign investments to exploit India’s resources under the logic of emerging markets. If a quarter of postcolonial India’s Scheduled Tribe population was displaced by ‘development’ projects, this time it is foreign investments that are causing large scale displacement of indigenous populations.