Can we discuss Indian entrepreneurship exclusively in terms of caste and community? Can it be claimed that Indian business has broken loose of its traditional social moorings and is much more inclusive? Are caste and community affiliations still of some consequence, despite the transformed economic context? And, can we be dismissive of the weight of history in shaping the social trajectory of entrepreneurial development in contemporary India? These are key concerns we face in trying to make sense of this complex conundrum of business communities. While there are no short answers, laying bare the broader historical context could throw some light.