Our country has become classical example of the same. Capitalism stands tamed in the era of imperialism which is an inherent aspect of decaying capitalism itself. However it is also a reality predicted by Lenin, enriching the theory of Marxism.

We are in twenty first century, marked with the path breaking reality of scientific technological revolution. Entire base is facing change, with new discoveries and the new perceptions, yet its revolutionary content is still asserted by Lenin’s forecast. Imperialism as it was defined by him is first, monopoly capitalism, parasitic and decaying, and also moribund. The content of imperialism lies in loss of competition and it manifests itself in cartels, syndicates, trusts. Concentration of production has helped monopolies in creating associations of capitalists, and banks have joined in the industrial ventures becoming themselves part of monopolization. Here enters finance capital as monopolist industrial bank capital. The monopolist industrial capital exert their own economic rule and take the command of even world market. But it not only rules over it, it divides it also and that too amicably, and exclusively among themselves.

Lenin can never be pushed into oblivion. Here comes export of capital, like earlier transport of commodities. It is one of the significant features of finance capital. It is also connected with the economic and territorial-political division of the world. It was the highest stage of capitalism in the world including Asia. In fact the excesses of finance capital can be seen even today in its wide spread unemployment, that builds up poverty, hunger, and all miseries leading to growing cases of suicides. The workers have become new slaves with minimum wages for maximum toil. The other side, responsible for the painful chaos, is helped from those in power. Our country is also an example of how economy becomes political. Starting as a commodity trading firm in 1988, the Adani group today has grown into India’s biggest infrastructure conglomerate with interests ranging from ports, SEZ, roads and airports to energy, gas, agribusiness, warehousing and what not.

This phenomenal rise in Adani’s economic fortunes can only be compared to the rise in Narendra Modi’s political fortunes and indeed the two have happened over the same period and in ever closer collaboration. India is becoming an example of the workings of monopoly finance capital. Like Adani, Mukesh Ambani today enjoys unprecedented economic power in India. Perhaps no other business houses aspire to match them. Ambani is clearly the trailblazer, certainly the one most aware of his accumulated power. It is because of his economic ‘power’ that Mukesh Ambani now wields so much control of the politics and economy of the country.

A paper authored by Paris School of Economics and World Inequality Lab, said, “By 2022-23, top one per cent income and wealth shares (22.6 per cent and 40.1 per cent) are at their highest historical levels and India’s top one per cent income share is among the very highest in the world, higher than even South Africa, Brazil, and the US.”Asia’s two richest men, Reliance Industries’ Mukesh Ambani and Adani Group’s Gautam Adani are Indian. The 10,000 wealthiest individuals of India own an average of Rs.22.6 billion in wealth. “The ‘Billionaire Raj’ headed by India’s modern bourgeoisie is now more unequal than the British Raj headed by the colonialist forces,” said the paper. Another recently published research paper titled “Income and Wealth Inequality in India, 2022-2023: The Rise of the Billionaire Raj” stated that between 2014-15 and 2022-23, the rise of top-end inequality had been particularly pronounced in terms of wealth concentration. Despite the tall promises made in 2014, Prime Minister Narendra Modi did not meet even one. His two terms in office have been characterised by a widening gap between the rich and the rural poor.

The Modi regime today represents unbridled centralization of power while the Adani-Ambani empires epitomize unprecedented concentration of wealth. The crony capitalism that emerges thus has made Modi government the government of the super rich, by the super rich, for the super rich. Breaking this stranglehold over the Indian economy and polity is now precondition for the survival of democracy in India.

A multi faceted thinker, Lenin had tried to turn the dreams of the masses into reality. We still draw lessons from the experience he gifted us. He interpreted the system, and showed us the ways to build up our world outlook. It was him who concretised the theory and practice both and said while analysing the contributions of Marx that dialectics is our theory and socialism practice. Basically a scientist, philosopher and revolutionary, his methodology was moulded accordingly. He stands relevant for our struggle to protect our Constitution, composite culture, secular democracy and beyond; for building the Left movement; and for confronting the threat of communal-fascism in India. In other words, Lenin's contributions towards understanding the science of Marxism were based on the scientific analysis of changing basics. Hence the clarity, richness, and viability, that made it all time useful. (IPA Service)