This paper makes two related contributions. First, the dual economic structure underlying development is shown as producing a distinct conception of other comprising of a devalued third world which is foregrounded and world of the third which is excluded. This dyad of inclusion-exclusion of other is produced in relation to the centers of capitalism and modernism. The category of third world helps to displace the language-experience-logic-ethos of the other a la world of the third such that development works over and transforms world of the third, but via the trope of a devalued third world. We then use this framework to explore the relation of global capitalism with world of the third in the Indian context, a relation that is shown to be two fold. There is on one hand an attempt to dismantle world of the third as part of the development trope of overcoming the third world. On the other, through inclusive development, an attempt is made to directly intervene in the economy of world of the third so as to address the problems of income inequality and social exclusion, again under the trope of uplifting the devalued third world
