This invention relates to an inhibited non-solubilized granular starch modified by less than 5% of a carboxylated polymer. In addition, a process is provided wherein a non-solubilized, substantially granular starch is mixed with a carboxylated polymer, dried to form a starch/carboxylated polymer blend and then physically treated to form a starch/carboxylated polymer composite. Further, this invention relates to the improved industrial and food products prepared from these starch/carboxylated polymer composites.