This article examines the origin, concept, theory and policy implications of state capitalism. It aims to assess, in the Indian context, how effectively state capitalism achieves its objectives and influences the operation of state-owned enterprises (SOEs). The research identifies the factors determining the viability of state capitalism. The growth, development and effects of state capitalism on the operations of SOEs in India are then thoroughly examined in the article. The study describes the processes and strategies that, under the statist model, enable SOEs to function exceptionally well compared to their counterparts in the private sector.
Mishra et al. (2026) studied this question.