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Monday November 9th, 2026

Does Gandhian Socialism Have Legs?

Illustrations by: Pubudini Sugandika

This excerpt reproduces the Conclusion from Mark Hager’s recently-published book, ‘Elusive Ideology: Religion and Socialism in Modern Indian Thought.’ Previous excerpts have appeared in Echelon and EconomyNext since August 2022. Readers can find the book through Amazon, Barnes & Noble, Barefoot Cafe, Expographic Books and Sarasavi Bookshop(s).

Conclusion: Legacy or No?

The discussion above has pursued three overarching objectives: to highlight the existence and nature of a persistent problematic in modern Indian thought, that of considering religious themes alongside socialist ones; to offer interpretations of the various thinkers examined in terms of this problematic; and to explicate the development of Gandhian socialism as the quintessential resolution of it.

If the discussion above accomplishes these objectives, there is little to add here. It is worthwhile, however, to reflect briefly on this whole 11 tradition of thought from the standpoint of issues left unexplored above. I will do so with respect to four such issues: the Hindu-centered religiosity of the tradition; the reasons for shifts among Indian Marxists toward increasing sympathy with Gandhi; the significance of India’s failure to pursue Gandhian socialism; and Gandhian socialism’s current world-historical significance.

The Hindu-centered religiosity of the tradition can be explained in terms of several overlapping factors, including: Hinduism’s numerical and cultural dominance in India; preoccupation among Muslim leaders and thinkers with Pakistan’s nationalism and the place of Muslim identity in a Hindu-dominated polity; and Indian nationalism’s need for a usable past, leading it to stress the ancient and indigenous religiosity over its late-coming non-indigenous rivals.

It is appropriate to ask what responsibility this Hindu-centered intellectual tradition may bear for generating the religious strife that has racked India for the past century. Strife has fed on Hindu nationalism and Muslim fears of subjugation and cultural effacement. The tradition of thought explained here may perhaps be reproached for over-preciousness in exaltation of Hindu themes. Were its Hindu-oriented visionaries sufficiently aware that the subtleties of their religious interpretations might get lost or distorted when heard by chauvinist Hindus or anxious Muslims?

If such a charge has merit, it obviously sticks most heavily to Gandhi, due to his oft-proclaimed Hinduism and outsize influence. Of course Gandhi is not alone to blame for Hindu-Muslim antagonism. But it may be fair to assign Gandhi and perhaps other thinkers covered here with some fair share of responsibility while recognizing that historical circumstances may have been inevitably tragic.

Experience of colonial subjugation created need for a nationalist ideology impelling India towards freedom. In its vastness and diversity, India lacked unifying ethnic, racial, political, and linguistic identities that have elsewhere energized nationalist movements. India was unified, if at all, only through the reach of Hindu religiosity which, though extensive and predominant, was by no means universal. The visionaries leading India toward liberation might have labored long and hard before managing to forge a nationalist identity not rooted in Hindu themes. Did Gandhi choose rightly or should he have been less Hindu and in less of a hurry? Given Gandhi’s outlook, such alternatives are almost unimaginable.

Socialist thought may at least sometimes benefit when it uses religious sensibilities to supplement Marxist and other economic analytics. Several of the thinkers explored here—Mehta, Deva, Nehru, and, most compellingly, J.P.— moved in parallel ways through their careers from an economically-centered, state-oriented, Marxist “scientific” socialism toward a more religiously-tinged, grass-roots Gandhian socialism. They did so without abandoning certain key Marxist perspectives for analysis. In doing so, they managed, especially J.P., to forge a distinctive and important socialist vision.

One may wonder why these thinkers all manifested these parallel perspectival shifts. Personal biography, touched upon here only lightly, may have weighed significantly. Other factors can be considered as well.

First, Gandhi’s charismatic leadership and political effectiveness brought his methods and viewpoints onto center stage, making it increasingly impossible for any prominent thinker to dismiss them wholesale. Second, as suggested in Chapter 5, Gandhi’s increasing clear-headedness in grasping socialist analysis in his late career made him more and more accessible to socialist minds. Third, persistently negative features of the Soviet state system fueled attempts to envision both a socialist order and a transformative program explicitly concerned with avoiding those feares. Fourth, India’s character as a deeply challenged Third World agrarian economy provoked an impulse to focus theoretically on village reconstruction. Fifth, the Third World experience imparted a sense of damages and dangers from economic growth, thereby fostering search for a prosperity not overly growth-biased. Sixth, despite Marxism’s frequent skepticism of consumerism, Indian thinkers found the socialist tradition inadequate and their own spiritual tradition valuable for picturing an egalitarian economy not subverted by competitive greed and materialism.

All these factors made it increasingly imperative for leading Indian Marxists to convince Gandhi into thinking seriously about socialism, rather than simply dismissing him as a hopeless bourgeois romantic, as r in some of their early careers. Gandhi’s response, though diffident, ultimately sufficed to draw Marxist pupils toward perceiving an integrity in the project of “Gandhian socialism.”

India’s inferior development since Independence certainly cannot be counted as the failure of Gandhian social ism. The extent to which India’s political economy could ever have been designated “socialist” at all is debatable. Whatever its name, India’s current order appears to realize Gandhi’s nightmare for India’s future: crushing mass poverty, illiteracy and ill-health alongside dazzling wealth and a state apparatus ineffectual in crucial tasks of progressive development. It seems to manifest all the negatives of socialism, capitalism and feudalism combined. It is what Gandhi expected for an India that failed to pursue systemic satyagraha and sarvodaya in pursuit of transformation.

Had he lived longer, Gandhi’s charisma might possibly have been enough to lead independent India along his envisioned course of systemic non-violent village-centered transformation. In the early Independence years, India’s nationalist elan was perhaps at high enough pitch to support significant mobilization for rural reconstruction. Nothing could have succeeded short of simultaneous effort by both the state and a highly mobilized citizenry. By the mid-50s, even at the height of Vinoba’s bhoodan, the moment may already have been lost. A political economy driven by interlinkages between concentrated wealth and state power had fixed its grip. J.P. increasingly saw this, which impelled his activities during the 70s. But the time for Gandhian socialism in India was no longer ripe, if it ever was, and it may not be ripe (again?) for quite some time.

Circumstances like those at present may yield a dark conclusion that Gandhian socialism is irrelevant or impossible. Even highly diminished practice of satyagraha and sarvodaya may consequently wither. That would be unfortunate. We cannot know if or when circumstances may emerge in which such practice might bloom into transformative scope and potential. If that happens, those who have kept effort alive will deserve thanks.

The revolutions in Eastern Europe three decades ago may highlight the ongoing relevance of Gandhian socialism. First, they underscore state socialism’s limited capacity in fostering human fulfillment. Second, they prove how resisters and visionaries may sometimes harvest surprising fruit when circumstances turn advantageously.

By nature of its focus, Gandhian socialism does not on its own go deep on race, sex/gender, immigration, environment and other important concerns. Some may say that Gandhian socialism grapples inadequately with markets in positive functions like facilitating rational pricing and promoting innovation through competition. Reconciling Gandhian socialism with “market socialism” remains a task for another day. Envisioning how it could integrate with welfare-state social democracy in wealthy countries is another. Additional agenda items could include conceptualizing sarvodaya for non-village communities, training for satyagraha, and studying satyagraha’s usefulness for divergent situations.

Of course, no one can say whether a robust Gandhian socialism will ever come to pass. The world is no Indian village even for myriad millions who live in one. Any dream of organized, disciplined nonviolent mobilization against injustice and of spiritualized productive communities must reckon with vast complexity. By all means, consider viewpoints specifically contrary to Gandhian socialism: that capitalism’s orderly acquisitiveness helps subdue unruly and violent passions; that producing consumer luxuries provides jobs for the poor; that urbanism alleviates farm pressure on habitats. Still, there is reason to suppose that neither India nor the world at large can ever reach a humane, sustainable and fulfilling prosperity for all without some quotient of Gandhian socialism. It is hard to shrug off J.P.’s insistence that active citizenship. Yields spiritual experience that no one should miss and that such citizenship is found best in an order of vibrant direct community and organized non-violent action for justice. Is it plausible we could attain now? Gandhian socialism suggests that we foster local production units owned or governed by democratic communities and that we do so in part through nonviolent citizen confrontation recalcitrant wealth and power. For the sake of human fulfillment, justice and concord, we should ponder these suggestions.

Sri Lanka stocks close up 1.37-pct, banks lead turnover

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange closed up on Monday, CSE data showed, with the benchmark All Share Price Index moving up 1.37 percent.

The ASPI was up 291.72 points at 21,531.37, while the more liquid S&P SL20 was up 1.67 percent, or 100.96 points, at 6,146.34.

Positive contributors to the ASPI were Commercial Bank of Ceylon (up 2.86 percent at 216.00 rupees), Hatton National Bank (up 1.52 percent at 399.75 rupees), Asiri Hospital Holdings (up 12.86 percent at 31.60 rupees), Tokyo Cement Company (up 5.22 percent at 84.70 rupees), and Access Engineering (up 3.93 percent at 81.90 rupees).

Carson Cumberbatch (down 4.24 percent at 712.00 rupees), Richard Pieris and Company (down 2.43 percent at 28.10 rupees), LOLC Holdings (down 0.62 percent at 400.00 rupees), Renuka Holdings (down 2.63 percent at 37.00 rupees), and Chevron Lubricants Lanka (down 0.61 percent at 204.25 rupees) were top negative contributors.

Market turnover was 3.33 billion rupees. The S&P/CSE Banks Industry Group led turnover with 667.76 million rupees.

The session saw heavy crossings, according to Raynal Wickremeratne, Head of Research and Strategy at NDB Securities. Significant crossings included Keells (23 million rupees), Distilleries Company (27.7 million rupees), Sunshine Holdings (30.6 million rupees), Commercial Bank (32.4 million rupees), Ceylon Tobacco Company (35.6 million rupees), Hatton National Bank (39.5 million rupees), Prime Lands (40.5 million rupees), and HAS Holdings (41.5 million rupees).

In corporate news, Hayleys Retail Holdings Ltd announced it has partnered with supply chain software provider Blue Yonder to build and scale an AI-native grocery supermarket chain across Sri Lanka. (Colombo/Nov09/2026)

 

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Sri Lanka’s Hayleys Retail to launch supermarket chain with Blue Yonder

ECONOMYNEXT — Hayleys Retail Holdings Ltd has selected supply chain software provider Blue Yonder to build its grocery retail operations from the ground up, the two companies said in a joint statement.

Hayleys Retail, a member of Sri Lanka’s diversified conglomerate Hayleys Group, plans to open several stores in the near future to serve consumers across the country. The agreement marks Blue Yonder’s first retail customer in Sri Lanka.

“Our entry into supermarket retail is about bringing that same commitment to quality and reliability closer to everyday Sri Lankan consumers,” Mohan Pandithage, Chairman and Chief Executive of Hayleys PLC said.

“With Blue Yonder, our teams will have AI-driven insight to deliver a seamless, consistent shopping experience across every store,” he said.

Hayleys, which accounts for approximately 5 percent of Sri Lanka’s export income and operates across 17 business sectors, is entering the large-scale supermarket space by drawing on its group strengths in manufacturing, logistics, and services.

The company selected Blue Yonder to connect its data across merchandising and shelf space, deploy artificial intelligence agents to catch operational issues early, and scale its business into a national network without changing platforms.

The rollout will begin with merchandise operations to manage suppliers, items, costs, and pricing, followed by machine learning capabilities to forecast demand and balance store inventory during seasonal peaks.

“Hayleys Retail is choosing one where AI is the foundation rather than an add-on—connected data and agentic AI built into core merchandising operations, and planning that learns as the business grows,” Antonio Boccalandro, President, APAC at Blue Yonder said.

The retailer plans to use the platform to automate routine store tasks and adjust inventory according to real-time sales and local market trends as its store footprint grows. (Colombo/Nov09/2026)

 

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Sri Lanka’s Citrus Leisure extends Lotus Tower management pact

ECONOMYNEXT – Sri Lanka listed hospitality firm Citrus Leisure said it has extended an agreement to manage consumer-facing and entertainment spaces at the Colombo Lotus Tower, which includes revolving restaurant Blue Orbit, until June next year.

The initial agreement signed between Citrus Leisure and Colombo Lotus Tower Management Company (Private) Limited (CLTMC) is due to expire on December 11.

“The Board of Directors of CLTMC at meeting held on 2nd November 2026 has resolved to extend the term of the Management Agreement and continue the existing Management Agreement until 30th June 2027, to which the company has given its concurrence,” the company said in a market filing.

Citrus Leisure Plc opened its revolving restaurant at the Lotus Tower in December 2023.

The company signed a 3-year agreement with CLTMC in May 2023 to provide services in the management of (l) the banquet hall 1 on the 25th floor, (2) the banquet hall 2 on the 26th floor, (3) the revolving restaurant on the 27th floor, (4) the 6 suites situated on the 28th floor and the kitchen in the basement floor of the Colombo Lotus Tower.

The 350-meter or 1,150-feet tower, the tallest in South Asia, was built at a cost 104.3 million US dollars with 80 percent of the money borrowed from Exim Bank of China.

Located in the commercial heart of Colombo, the tower has been called a symbolic landmark of Sri Lanka as well as a colossal white elephant and has been mired in controversy for years. (Colombo/Nov9/2026)

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CIC Holdings Sept quarter net profit rises 20-pct to Rs1.7bn

ECONOMYNEXT — Sri Lanka conglomerate CIC Holdings recorded a net profit of 1.66 billion rupees for the quarter ended September 30, rising 20.3 percent from 1.38 billion rupees in the same quarter last year, interim accounts showed.

The group posted basic earnings per share of 0.87 rupees for the September quarter, up from 0.73 rupees a year earlier.

Quarterly revenue grew 3.4 percent to 20.89 billion rupees from 20.20 billion rupees, supported by broad-based growth across industrial solutions, livestock, and healthcare segments, which counterbalanced relative demand moderation in agricultural inputs.

Cost of sales rose 5.3 percent to 15.20 billion rupees, outpacing revenue growth and causing gross profit to contract marginally by 1.2 percent to 5.68 billion rupees.

Results from operating activities dropped 7.3 percent to 2.66 billion rupees from 2.87 billion rupees, impacted by higher operating overheads.

Selling expenses expanded 6.8 percent to 2.15 billion rupees, and general and administrative expenses climbed 5.8 percent to 1.07 billion rupees, while other operating income dropped 29.6 percent to 117.40 million rupees.

However, operating profits were cushioned by an impairment reversal on trade receivables of 85.83 million rupees, turning around from an impairment provision of 23.38 million rupees in the corresponding quarter last year.

Net finance costs climbed 35.4 percent to 712.25 million rupees from 526.01 million rupees.

The increase was driven by a 30.8 percent rise in finance expenses to 771.46 million rupees, primarily reflecting higher interest expenses on loans to finance elevated working capital and inventory requirements.

The quarter’s bottom line was strongly bolstered by CIC’s equity-accounted investment in John Keells Holdings PLC (JKH).

Share of profit from equity-accounted investees surged more than fourfold to 590.50 million rupees from 257.87 million rupees, driven by JKH’s strong profit expansion during the period.

The group also recognized a gain on bargain purchase of 55.59 million rupees during the quarter resulting from additional share purchases in JKH where the proportionate net asset value exceeded acquisition cost, compared to no such gain a year earlier.

With associate income gains offsetting operating margin contraction and higher borrowing costs, group pre-tax profit held virtually flat at 2.59 billion rupees, down 0.11 percent.

Income tax expense fell 29.4 percent to 606.24 million rupees from 858.71 million rupees, driving total group profit for the period up 14.1 percent to 1.98 billion rupees.

Total group assets stood at 108.58 billion rupees as of September 30, up from 99.75 billion rupees at the end of March 2026.

Group net asset value per share increased to 25.52 rupees from 22.10 rupees a year earlier.

CIC Holdings’ ordinary voting shares closed at 27.80 rupees at the end of September.(Colombo/Nov09/2026)

 

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Sri Lanka stocks trend up; ASPI gains 0.78-pct

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange was trading higher on Monday, CSE data showed, with the benchmark All Share Price Index moving up 0.78 percent.

The ASPI was up 165.73 points at 21,405.38, while the more liquid S&P SL20 was up 0.61 percent, or 37.04 points, at 6,082.42.

Positive contributors to the ASPI were Commercial Bank (up 1.55 percent at 213.25 rupees), Ceylon Cold Stores (up 2.61 percent at 128.00 rupees), Asiri Hospital Holdings (up 10.00 percent at 30.80 rupees), Hemas Holdings (up 1.27 percent at 32.00 rupees), and Ambeon Holdings (up 6.02 percent at 37.00 rupees).

Namunukula Plantations (down 3.92 percent at 63.70 rupees), LOLC Holdings (down 0.62 percent at 400.00 rupees), and Chevron Lubricants Lanka (down 0.12 percent at 205.25 rupees) were top negative contributors.

Market turnover was 428.31 million rupees. Capital goods led turnover with 82.53 million rupees. (Colombo/Nov09/2026)

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Sri Lanka rupee at 332.54/58 to US dollar spot, bond yields steady

ECONOMYNEXT – Sri Lanka’s rupee was quoted at 332.54/58 to the US dollar spot on Monday, stronger from 332.55/60 Friday, while bond yields held broadly steady, dealers said.

A bond maturing on 15.09.2029 was quoted at 10.90/95 percent, up from 10.85/95 percent.

A bond maturing on 01.08.2030 was quoted at 11.00/10 percent, down from 11.05/10 percent.

A bond maturing on 01.02.2031 was quoted at 11.10/20 percent, up from 11.10/15 percent.

A bond maturing on 15.12.2032 was quoted at 11.58/68 percent, up from 11.55/65 percent.

A bond maturing on 01.06.2033 was quoted at 11.80/95 percent, up from 11.80/85 percent.

A bond maturing on 15.10.2034 was quoted at 12.08/15 percent, up from 12.05/12 percent.

A bond maturing on 15.08.2036 was quoted flat at 12.30/40 percent.

The telegraphic transfer rate for the dollar was 328.05 buying, 337.05 selling; the euro was 363.3528 buying, 377.1336 selling; pound was 437.5954 buying, 451.7038 selling.

On the Colombo Stock Exchange the All Share Price Index was up 0.78 percent, or 165.42 points, at 21,405; while the S&P SL20 was up 0.58 percent, 35.19 points, at 6,080.

90,000 million rupees Treasury bills are to be issued through an auction on November 11. (Colombo/Nov9/2026)

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