Conscious Capitalism or Spiritual Washing? Vaiṣṇava Philanthro-Capitalism and the Case of Ajay Piramal
Conscious Capitalism or Spiritual Washing? Vaiṣṇava Philanthro-Capitalism and the Case of Ajay Piramal Posted on 24th September, 2025 (GMT 04:49 hrs) ABSTRACT This article critically examines the intersection of religion, capitalism, and corporate power in contemporary India, using Ajay Piramal and the DHFL scandal as a case study to interrogate the concept of “conscious capitalism” and its spiritualized variants. It argues that ostensibly ethical and Vaishnava-aligned philanthropy—what may be termed “Vaishnava philanthro-capitalism”—often functions as a moral façade for systemic exploitation, environmental negligence, financial expropriation, and political cronyism. The piece highlights Piramal’s alleged expropriation of DHFL investors’ life savings, corporate entanglements, and use of Strategic Lawsuits Against Public Participation (SLAPPs) to intimidate dissent, juxtaposed against his projected image as a Paramavaishnava disciple of ISKCON’s Radhanath Swami. Drawing on en...