The House Of Tata Meets The Second Industrial Revolution

This monograph aims to analyze the economic and business history of colonial India from a corporate perspective by clarifying the historical role of institutional developments based on archival evidence of a representative enterprise. The perspective is distinctively unique in that it highlights the salience of corporate-level institutional responses to explain the causes of colonial India’s industrial growth, in addition to two renowned perspectives focusing on government economic policy or factor endowment. One of the driving forces of India’s high growth rate since the 1980s is the expansion of modern business corporations whose origins date back to the colonial era in the mid-nineteenth century. This monograph explores the historical foundation of the growth of such corporations in colonial India, guided by a substantial collection of documents of Tata Iron and Steel Company, whose rich records have not received the due attention they have long deserved. As clarified by numerous economic and business historians of leading industrialized countries since the works of Douglass North and Alfred Chandler, this study as well proposes that the development of modern business corporations in colonial India was broadly supported by the reciprocal evolution of economic institutions and corporate organizations. Adding a new perspective to the business and economic history of colonial India, the analysis also provides an important case study of the development of corporate business in the non-Western world to the study of global business history.

An eye-opening portrait of global capitalism spanning 150 years, told through the history of the Tata corporation. Nearly a century old, the grand façade of Bombay House is hard to miss in the historic business district of Mumbai. This is the iconic global headquarters of the Tata Group, a multinational corporation that produces everything from salt to software. After getting their start in the cotton and opium trades, the Tatas, a Parsi family from Navsari, Gujarat, ascended to commanding heights in the Indian economy by the time of independence in 1947. Over the course of its 150-year history Tata spun textiles, forged steel, generated hydroelectric power, and took to the skies. It also faced challenges from restive workers fighting for their rights and political leaders who sought to curb its power. In this sweeping history, Mircea Raianu tracks the fortunes of a family-run business that was born during the high noon of the British Empire and went on to capture the world’s attention with the headline-making acquisition of luxury car manufacturer Jaguar Land Rover. The growth of Tata was a complex process shaped by world historical forces: the eclipse of imperial free trade, the intertwined rise of nationalism and the developmental state, and finally the return of globalization and market liberalization. Today Tata is the leading light of one of the world’s major economies, selling steel, chemicals, food, financial services, and nearly everything else, while operating philanthropic institutions that channel expert knowledge in fields such as engineering and medicine. Based on painstaking research in the company’s archive, Tata elucidates how a titan of industry was created and what lessons its story may hold for the future of global capitalism.

This book discusses food in the context of the cultural matrix of India. Addressing topical issues in food and food culture, it explores questions concerning the consumption, representation and mediation of food. The book is divided into four sections, focusing on food fads; food representation; the symbolic valence of food; modes and manners of resistance articulated through food. Investigating consumption practices in both public and ethnic culture, each chapter introduces a fresh approach to food across diverse literary and cultural genres. The book offers a highly readable guide for researchers and practitioners in the field of literary and cultural studies, as well as the sociological fields of food studies, body studies and fat studies.

This book is open access under a CC BY-NC-ND license. This book addresses the issue of how a country, which was incorporated into the world economy as a periphery, could make a transition to the emerging state, capable of undertaking the task of economic development and industrialization. It offers historical and contemporary case studies of transition, as well as the international background under which such a transition was successfully made (or delayed), by combining the approaches of economic history and development economics. Its aim is to identify relevant historical contexts, that is, the ‘initial conditions’ and internal and external forces which governed the transition. It also aims to understand what current low-income developing countries require for their transition. Three economic driving forces for the transition are identified. They are: (1) labor-intensive industrialization, which offers ample employment opportunities for labor force; (2) international trade, which facilitates efficient international division of labor; and (3) agricultural development, which improves food security by increasing supply of staple foods. The book presents a bold account of each driver for the transition.

"The Indian entrepreneur is spearheading India's advance towards the forefront of the world economy. This book reviews and retraces the formidable path of those individuals who have spurred the growth of Indian businesses and are at the heart of India's economic fabric today. Be they ‘first’ or ‘second’ wave businessmen and women, they stand out by their creativity, sharp-mindedness, and hard work and self confidence. They have opened a new chapter in India's history by propelling their businesses into internationally competitive multinationals and are sources of inspiration and hope for the young citizens of India." —Colette Mathur, Senior Advisor to the World Economic Forum for India, Co-President of the EuroIndia Centre BI"India's Global Wealth Club is a fascinating read on today's India and what it can offer for the future. It provides rich insights on the confusing topic of what makes India tick, by describing it through the minds and intellects of Indian business leaders from a wide spectrum of industries." —Rama Bijapurkar, Author of Winning in the Indian Market: Understanding the Transformation of Consumer India "Mr Hiscock’s book will prove an essential resource for anybody contemplating venturing into the highly lucrative but deeply complex Indian marketplace. The industry case studies and personal profiles hold valuable and often unmatched insights into the financial secrets of the subcontinent’s restive tiger." —Grant Holloway, Managing Editor, The Australian - Online

A unique examination of the development of the modern Indian economy over the past 150 years.

World-renowned economist Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, explains that we have an opportunity to shape the fourth industrial revolu­tion, which will fundamentally alter how we live and work. Schwab argues that this revolution is different in scale, scope and complexity from any that have come before. Characterized by a range of new technologies that are fusing the physical, digital and biological worlds, the developments are affecting all disciplines, economies, industries and governments, and even challenging ideas about what it means to be human. Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wear­able sensors and microchips smaller than a grain of sand. But this is just the beginning: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development. Imagine “smart factories” in which global systems of manu­facturing are coordinated virtually, or implantable mobile phones made of biosynthetic materials. The fourth industrial revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history. He outlines the key technologies driving this revolution and discusses the major impacts expected on government, business, civil society and individu­als. Schwab also offers bold ideas on how to harness these changes and shape a better future—one in which technology empowers people rather than replaces them; progress serves society rather than disrupts it; and in which innovators respect moral and ethical boundaries rather than cross them. We all have the opportunity to contribute to developing new frame­works that advance progress.