Sunday, March 2, 2014

Jamsetji Tata - 1839 - 1904

Jamsetji Nusserwanji Tata was on 3 March 1839. He became a pioneer industrialist and  founded the Tata Group, India's biggest conglomerate company.

Jamsetji Tata is regarded as the legendary "Father of Indian Industry".

Jamsetji Nusserwanji Tata was born to Nusserwanji and Jeevanbai Tata in Navsari, a small town in South Gujarat then part of the princely state of Baroda. Nusserwanji Tata was the first businessman in a family of Parsi Zoroastrian priests.He started trading in Bombay. Jamsetji joined his father in Mumbai at the age of 14 and enrolled at the Elphinstone College completing his education as a ‘Green Scholar’ (equivalent of today’s graduate).  He graduated from college in 1858 and joined his father's trading firm. Jamsetji's knowledge expansion happened through successive trips abroad, mainly to England, America, continental Europe, and other places that convinced him that there was tremendous scope for Indian companies to forge through and make a foray in the British dominated textile industry.

Jamsetji worked in his father's company until he was 29. He founded a trading company in 1868 with Rs. 21,000 capital. He bought a bankrupt oil mill at Chinchpokli in 1869 and converted it to a cotton mill, which he renamed Alexandra Mill. He sold the mill two years later for a profit. He set up a totally new  cotton mill at Nagpur in 1874, which he named  Empress Mill when Queen Victoria was proclaimed Empress of India on 1 January 1877.

He planned four mega projects: an iron and steel company, a world-class learning institution, a unique hotel and a hydro-electric plant. The Taj Mahal Hotel at Colaba waterfront in Mumbai was inaugurated on 3 December 1903 and it was developed at the cost of 42 million rupees (It is equivalent of  1100 crore rupees at 2010 prices).

His other plans came to fruition subsequent to his death.

Tata Steel (formerly TISCO — Tata Iron and Steel Company Limited) is Asia's first . It created history by  acquiring Corus Group and now it is  producing 28 million tonnes of steel annually.

Indian Institute of Science, Bangalore, the pre-eminent Indian institution for research and education in Science and Engineering.

Tata Hydroelectric Power Supply Company, renamed Tata Power Company Limited, currently India's largest private electricity company with an installed generation capacity of over 8000MW.



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