'Billionaire Raj' Explores Cronyism, Corruption and the Rise of India's Super-Rich

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High-rise residential buildings are seen near railway tracks in Mumbai. (PUNIT PARANJPE/AFP/Getty Images)

India is close to becoming the world's most populous nation, and alongside China, it is Asia's most unequal major economy. James Crabtree's new book "Billionaire Raj" documents the rise of India's "Bollygarchs," the uber-rich who came to control the country's industrial sector through cronyism and official corruption. We'll talk to Crabtree about why he compares contemporary India to America's Gilded Age and the political and economic reforms needed to curb plutocratic power and reduce the country's wealth gap.

James Crabtree,
former Mumbai bureau chief, Financial Times; author, "The Billionaire Raj: A Journey Through India's New Gilded Age"