In March 2008, Permanent Black and the New India Foundation jointly published Harish Damodaran's book India's New Capitalists. The rights for the European and North American editions were sold to Palgrave Macmillan. This landmark study, which investigates the sociology and history of India's business communities since Independence, is the outcome of a New India Fellowship. It has been widely and very favourably reviewed, and also featured in a special article in the Economist.

Damodaran’s book is the first in a series of books that shall emanate from the Fellowships. Before the end of 2008, two other books by New India Fellows will be in print. Vasanthi Srinivasan’s Gandhi’s Conscience-Keeper, a study of the political philosophy of C. Rajagopalachari, is to be published by Permanent Black. Dinesh C. Sharma’s The Long Revolution, a history of India’s computer and IT industry, is to be published by HarperCollins India. Other books in the series will likewise be published by the most prestigious presses in India and abroad.