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    Book Reviewon

    Bussiness LegendsBy

    Gita Piramal

    Presented by :Ram SinghJRFDepartment of Bussiness Administration,University of Lucknow

    Lucknow

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    Introduction To Author

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    Books & Writing: Gita Piramal She has penned down several books:

    Business Maharajas Business Legends Managing Radical Change World Class in IndiaBusiness

    The Smart Manager, managing editor since Feb2002. India's Industrialists, Vol. 1 (co-authored with

    Margaret Herdeck

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    About Book: The Bussiness Legends In this bestselling book, Gita Piramal

    compellingly brings alive the ambition andachievement of four pioneers Entrperenuer :G.D. Birla, J.R.D. Tata, WalchandHirachand and Kasturbhai Lalbhai who

    together, lay the foundations for the golden ageof Indian industry from 1951 to '62.

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    THE BUSSINESS LEGENDS

    BUSSINESSLEGENDS

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    JRD TATA(1904-1993)

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    R.D. Tata and Suzanine Bairre (SooniI got married in the year 1902 in ParisThey had five children Sylla Petit, JRD,, Rodabheh Sawhney, Darab, andJameshed Jimmy.

    JRD Tata was born on 29 July 1904.It was an unusual childhood, nomadic and unsettling. His father was mostlyabsent and JRD, his brothers and sisters had a permanent address when theygot settled in India when JRD was Twenty one.After the death of Mother Sooni and Father, the children were look after bytheir grandmother.

    RD sent JRD to crammer in England.As the course was over JRD had to stay in army for two years . He had placedto French Regiment called La Saphis, but at the end of the year RD summonedhim to come back to India.After Some days, RD died and the responsibility comes on the shoulder ofJRD at the age of 22 and look after payment of debts of TISCO

    EARLY LIFE

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    Soon after JRD arrived Bombay in December 1925, his father took him tomeet John Peterson. He was the director in chief of Tata Steel.

    John Peterson was Indian Civil Administrator and joined TATA STEEL byresigning his job.

    JRD was made to sit next to Peterson, all the letters routed to Petersonthrough JRD so he can learn the administration. Peterson retired and returned to England in 1931. All of the experts working with TATA accepted JRD as the Group leader

    and decision maker because of his some majour achievement.

    CLIMB TO THE TOP

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    Kasturbhai Lalbhai

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    INTRODUCTION Kasturbhai Lalbhai (19 December 1894 20

    January 1980) was an Indian INDUSTRIALIST. He was widely perceived

    as NATIONALIST businessman akin to G DBIRLA

    He co-founded the ARVIND MILLS along withhis brothers and several other institutes. He is the chairman of Indian conglomerate Bajaj

    Group and member of parliament.

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    FAMILYHe belong to the family of Nagarseth (city chief) of

    Ahmedabad, recognized by the Mughals, Marathas andthe English during different times.He was the descedant of Shanti Das Jhaveri, a royal

    jeweller of Akbar. Khushalchand (1680 1748), thegrandson of Shantidas paid ransom to the Marathas tosave Ahmedabad from plunder in 1725. Khushalchand'sson Vakhatchand (1740 1814) was also a noted

    business man.His grandfather Dalpatbhai Bhagubhaiwas also in cotton trading business in the 1870s. Hisfather Lalbhai Dalpatbhai (1863-1912) establishedSaraspur cotton mill in 1896 addition to the traditionalbusiness of precious gems .It became a part of theswadeshi movement in India.

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    EARLY LIFE Kasturbhai was born to Mohini and Lalbhai Dalpatbhai,

    a Jain family, in 1894 in Jhaveriwad, Ahmadabad, Gujarat. He studied at Municipal School Number Eight near Teen

    Darwaja , Ahmedabad up to fifth grade. He later joinedRanchhodlal Chhotalal Government High School. Hematriculated in 1911 with second class. In 1912, when he was a17 year old studying in Gujarati College, his father died and being the second son, he was asked to discontinue his studiesso as to help in the family business.

    His father Lalbhai had divided property among his brothersonly in the recent past; as his and his sons share, Lalbhai hadreceived Raipur mills, a new establishment.

    He was married to Sharda Chimanlal Jhaveri in May 1915 andhad two sons, Shrenik and Siddharth

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    BUSSINESS He joined Raipur Mill as a chairman in 1912. The operations of the mill had not yet stabilised; hence,

    Kasturbhai had to take care of operations closely. He startedoff as a timekeeper in the mill, but fed up with the repetitivenature of the job, he started working with suppliers of the milland travelled far and wide to understand the supplier market.

    The boom in demand during and post-World War I helped himin establishing the operations of the firm.

    He joined the board of directors of Raipur mill in 1918. Laterhe established Ashoka Mills in the 1920s. He expanded business by investing in or acquiring five millsbetween 1924 and 1938 including four belonging to relatives.

    These includes establishment of Arvind Mills and Nutan Millsin 1931, Aruna Mills in 1928, Ahmedabad New Cotton Mills in1938. Swadeshi movement by Mahatma Gandhi

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    POLITICS He was elected in Central Legislative Assembly in December 1923. During his three year term, he was involved in lobbying forIndian industries including repeal of excise dutyon textiles.During the 1930s, he came close with Mahatma Gandhi and helped him

    in Swadeshi movement which boycotted foreigngoods and promoted local industries. He wasalso indulged in negotiation of taxes with Britishfor Indian textiles during economic depression

    of the 1930s.

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    POLITICS ....

    He held several important positions after independenceof India, including Advisory Committee on FundamentalRights, Minorities and the Administration of Tribal andExcluded Areas in 1947, chairmanship of the EconomicCommittee of the Ministry of Finance in 1948,chairmanship of Central Public Works DepartmentIndustry Committee in 1952, chairmanship of National

    Research Development Corporation, member of Councilof Scientific and Industrial Research, trustee of GandhiSmarak Nidhi, member of Indian Investment Centre. Healso became the trustee and chairman of MahatmaGandhi Memorial Fund. He also served as a member ofMinorities Sub-committee as a representative of Jainism

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    INSTUTIONAL BUILDER

    He and Vikram Sarabhai established AhmadabadTextile Industries Research Association (ATIRA)

    before independence under Ahmedabad TextileMillowners Association for promoting research infield of textiles.

    AES also donated land for the establishment ofthe Indian Institute of Management

    Ahmedabad (IIMA). Kasturbhai along with VikramSarabhai were instrumental behind it. He was on theboard of IIMA but declined to accept the position ofits chairman

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    Now IIMA has Kasturbhai Lalbhai ManagementDevelopment Centre and a Kasturbhai Lalbhai Chair

    in Entrepreneurship. To promote engineering and technology, he foundedan engineering college in 1947 and named it after hisfather, Lalbhai Dalpatbhai College of Engineering.

    He also established the Lalbhai Dalpatbhai Instituteof Indology in 1962.In 1949, he founded the GujaratChamber of Commerce and Industries (GCCI). From1955 to 1965, he was a chairman of Indian Instituteof Technology (IIT).

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    He founded the Lalbhai Dalpatbhai Institute ofIndology in 1962 which preserves large number of

    manuscripts, rare books and microfilms. In1972, Sankat Nivaran Society was founded byGujarat Chamber of Commerce and Industries and

    Ahmedabad Textile Mills Owners' Association He commissioned world-renowned architects such

    as Louis Kahn, Le Corbusier, B. V.Doshi and Charles Correa to design some of theseinstitutes and bring modern architecture in

    Ahmedabad

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    LATER LIFE With time, Kasturbhai started handing over the

    operations of his businesses to his family in the1960s. He devoted more time to public activities.He retired from business in January 1977. Hedied on 20 July, 1980 in Ahmedabad.

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    Walchand Hirachand Doshi

    23 November 1882 8 April 1953

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    INTRODUCTION Walchand Hirachand Doshi (23 November

    1882 8 April 1953) was an Indian industrialist,founder of Walchand group of companies. Heestablished Indias first modern shipyard,first aircraft factory and first car factory besideshaving established construction companies,sugar plantation, sugar factory, confectionery,engineering companies and many other businesses

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    EARLY LIFE Walchand Hirachand was from a Gujarati

    Jain family hailing from Wankaner in Gujarat,

    which had settled in Sholapur in erstwhile BombayPresidency.He was born in Solapur, (now inMaharashtra) in a Digambar Jain family to SethHirachand Nemchand Doshi by his first wife Raju.Hirachand was engaged in cotton trading andmoney lending. Walchand's mother died a few daysafter his birth. Hirachand married later to Sakhubaito whom his step-brothers - Gulabchand, Ratanchand and Lalchand were born

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    EDUCATION Walchand matriculated in 1899 from Sholapur

    Government High School and later attended St.Xaviers College and got Bachelor of Arts degree.Later he attended Deccan College in Pune butleft studies incomplete to join his family business

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    MARRIAGE While he was still studying, in 1900 he got

    married to Jiu Kilachand, daughter of aSholapur banker. From this marriage, he had adaughter named Chatur but his wife died inchild-birth. Later in 1913, under family pressure,he married to Kastur Mehta. From his secondmarriage, he had a boy and girl child but bothdied in infancy

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    EARLY BUSSINESS After spending few years in his father's family business of banking and cotton trades, herealized he was so not interested in the family business. He found the railway contracting business to his liking and became a railwaycontractor for constructions in partnership with

    a former railway clerk, Laxmanrao BalwantPhatak; the partnership later became Phatak- Walchand private limited. Walchand proved to be a successful railway contractor but was open

    to other business ideas as well

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    CONSTRUCTION BUSSINESS It was in the construction business, first as a railway contractor, and then, as a

    contractor to other departments of Government, that Phatak-Walchand privatelimited (partnership till 1915) made money. Phatak left the firm after it bought a

    foundry and undertook a mining lease, with the view that it was stretching itself intotoo many areas. Meanwhile, the firm found it difficult to bag larger contracts due tosmall size and absence of marquee names. It was merged into Tata ConstructionCompany in 1920 to overcome these problems

    Some of the major projects executed by the company include the commissioning ofthe tunnels through the Bhor Ghats for a railway route from Mumbai to Pune andlaying of water pipes from Tansa lake to Mumbai and also laying tracks for Barsi

    Light Railway. Other major projects executed by the firm include the Kalabag Bridgeover Indus and a bridge across the Irrawaddy River in Burma. All these projects weredirected by Walchand

    In 1935, the company was renamed as Premier Construction to reflect the fact thatTatas had sold their stake in the firm to Walchand. Other construction company hefounded was Hindustan Construction Company in 1926, which is today one of thecivil & engineering construction giants of India

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    Sugar & Confectionery

    Walchand founded Walchandnagar Industries in 1908, which was started as a large-scale sugar farming firm but was later diversified into making also sugar refinedspirit, sugar machinery, plastic goods, cement plantpaper and pulp plant, water tube apart fromsugar.Walchand made Gulabchand it's Chairman to lookafter its day to day affairs

    Another company in sugar and confectionary, The

    Ravalgaon Sugar Farm was started by Walchand in 1933and it is the Confectionery Division was started in 1942. Today, Ravalgaon Sugar is one of the market leaders in

    Indian confectionery market, which is managedprofessionally by independent Directors

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    SHIPPING In 1919, after the end of World War I, he along with his

    friends, Narottam Morarjee, and Kilachand Devchand, boughta steamer, the SS Loyalty from the Scindias of Gwalior; with

    Narottam Morarjee being major financer. Walchand's underlyingassumption was that the post-war years would also spell massivegrowth for the shipping industry just as the war years had done

    . Walchand named his company The Scindia Steam NavigationCompany Ltd. and competed with the foreign players. It wasrecognised as the first Swadeshi shipping company in the true senseof the term and was referred to widely in Mahatma Gandhiscolumns in Young India and Harijan on Swadeshi, boycott offoreign goods and Non co-operation movement.

    By 1953, the company had captured 21% of Indian coastal traffic

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    AIRCRAFT FACTORY In 1939, a chance acquaintance with an American aircraft

    company manager inspired him to start an aircraft factory inIndia. Hindustan Aircraft was started in Bangalore in

    the Mysore State with the active support of its Diwan, MirzaIsmail in December 1940, where Kingdom of Mysore werepartners in venture. Others, who invested their money were Dharamsey Mulraj Khatau and Tulsidas Kilachand. By April 1941, the Indian government acquired one-third ofownership and by April 1942, it nationalized the company by

    compensating shareholders adequately Japans advances in the war meant that the governmentneeded fast responses and hence, direct ownership; and itcould not allow a crucial war project to remainundercapitalised or loss-making. Hindustan Aircraft wasrenamed as Hindustan Aeronautics Limited

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    SHIPYARD He also believed that there was a strong need for a shipyard in

    the country and started work on it in 1940 at Visakhapatnam.In the days when it was unthinkable of foundation ceremony

    to be done by anyone other than British officials, the trulypatriotic Walchand decided to break the tradition and thefoundation stone for the shipyard was laid by Dr. RajendraPrasad on 21 June 1941, who was acting Congress President atthat time

    It was named Scindia Shipyard Limited and its first product,the ship Jalusha was launched soon after independence by Jawaharlal Nehruin 1948. However, the shipyard cameunder government control a few months later (due to thepresumed importance of the project to countrys security andeconomic growth) and was fully nationalized in 1961 and wasrenamed Hindustan Shipyard Limited

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    DEATH In 1949, he suffered from a stroke and retired from business

    in 1950.He was looked after by his wife, Kasturbaipassionately in his last years, who took him away to naturalsurroundings and religious townof Siddhapur in Gujarat away from Bombay, so that he canrecover his health.

    He died on 8 April 1953 at Siddhapur.He was survived by his wife Kastur and daughter Chatur, who was from his firstmarriage

    As Walchand Hirachand died without any heirs, his businessis now run by descendants of his brothers like GulabchandHirachand, Lalchand Hirachand, Ratanchand Hirachand, who worked together till they were alive

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    PUBLIC LIFE Walchand was one of the founder member of Maharashtra Chamber

    of Commerce, Industry & Agriculture and served as its President foreleven consecutive years from 1927-38. .

    Walchand was also the founder of Indian National Shipowners' Association, which was founded in 1929 and served as its Presidentfor 19 consecutive years from 1929-48.

    He also helped launch of Indian Sugar Mills Association and theIndian Sugar Syndicate.

    He served as President of Indian Mechants' Chamber for years 1927-28

    Also Walchand founded Deccan Sugar Factories Association andDeccan Sugar Technologists Association, whose first President wasmade his younger brother Lalchand and was also force behindinstitutions like Association of Indian Automobiles Manufacturers,the Automotive Research Association of India

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    PUBLIC LIFE During his lifetime, he started several charitable trusts, to look after

    several and also establish new educational institutions, boardinghouse and carry on other philanthropic works and sponsorships,like

    Walchand Institute of Technology, located at Solapur, India. Walchand College of Engineering, Sangli - founded in 1947. Walchand Dale Carnegie Finishing School at Bellandur, India. Walchand College of Arts and Science, Solapur. - established in

    1962.

    Smt. Kasturbai Walchand College, Sangli. - named after his wife[34]

    Seth Hirachand Nemchand Digambar Jain Borading, Pune - boarding house founded in 1941 for Jains and named after father of Walchand Hirachand & his brothers.

    Walchand Public School, Sonipat

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    GD BIRLA

    10 April 1894 11 June 1983

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    INTRODUCTION Ghanshyam Das Birla was born on 10 April 1894 at Pilani village, in

    the Indian state then known as Rajputana, as a member ofthe Marwari Maheshwari community.

    His grandfather, Shiv Narayana Birla, had diversified from thetraditional Marwari business f moneylending against pawned items.He had left Pilani for Calcutta, using his modest capital to establisha dealership in cotton. The venture was successful and he came backto Pilani to build a mansion (or Haveli ), which still stands by thename Birla Haveli . G. D. Birla's father, Baldeodas Birla, wasadopted from the Navalgarh Birla family. Baldeodas's fortune wasmade in partnership with his nephew, Fulchand Sodhani, throughspeculation in the opium trade running into more than 10million rupees, in which his elder brother Jugal Kishore Birla hadearned a name.He was involved in the so-called Rodda-Catridgeaffair and went underground for three months in 1916.

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    BUSSINESS Birla inherited the family business and moved to further diversify

    them into other areas. Of these, at least three contemporary family business groups existing in India today can trace their ancestry toGhanshyam Das. Of these businesses, he wanted to turn themoneylending business into manufacturing. So he leftfor Calcutta in Bengal, the world's largest jute producing region.There he established a jute firm, much to the consternation ofestablished European merchants, whom the biased policies ofthe British government favoured other than thelocal Bengali merchants. He had to scale a number of obstacles as

    the British and Scottish merchants tried to shut his business byunethical and monopolistic methods, but he was able to persevere. When World War I resulted in supply problems throughout theBritish Empire, Birla's business skyrocketed.

    With an investment of Rs.50 lakhs in 1919, the Birla BrothersLimited was formed. A mill was set up in Gwalior in the same year.

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    BUSSINESS In 1926, he was elected to the Central Legislative

    Assembly of British India. [2] He became the founding presidentof Harijan Sevak Sangh founded by Mahatma Gandhi in Delhi in1932 .

    In 1940s, he ventured into the territory of cars and establishedHindustan Motors. After independence, Ghanshyam Das Birlainvested in tea and textiles through a series of acquisitions oferstwhile European companies. He also expanded and diversifiedinto cement, chemicals, rayon and steel tubes. Ghanshyam Das Birladuring the Quit India movement of 1942, had conceived the idea oforganizing a commercial bank with Indian capital and management,and the United Commercial Bank Limited was incorporated to giveshape to that idea. Uco Bank, formerly United Commercial Bank,established in 1943 in Kolkata, is one of the oldest and majorcommercial bank of India.

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    ACHIEVEMENTS Envisioning infrastructural development in his hometown, Birla founded

    the Birla Engineering College (rechristened as Birla Institute of Technologyand Science in 1964) in Pilaniand Technological Institute of Textile &Sciences in Bhiwani among other educational institutions in 1943. Bothcolleges have evolved over the years to develop into one of India's bestengineering schools. Now Pilani also houses a wing of Central ElectronicsEngineering Research Institute (CEERI), a famous residential, public schoolchristened after Birla's family and a number of polytechnic colleges. Thetown of Pilani and the local population enjoy a highly symbiotic relationship with these institutions, thereby stepping towards realizing G.D.'s dream.TIT&S also evolved as Center of Excellence in Textile based education and

    training. Moreover, G D Birla Memorial School, Ranikhet, a premierresidential school has also been established in his honor by Syt. B.K. Birlaand is today one of the best residential schools in the nation and even TheBirla Schol in Kalyan,Mumbai,Maharashtra,India was founded by hisefforts with collaboration of Kalyan Citizens Education Society (KCES).

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    ACHIEVEMENTS There is a memorial to Ghanshyam Birla

    in Golders Green Crematorium, Hoop Lane,London. It comprises a large statue overlookingthe gardens with an inscription.

    He died in 1983 at the age of 90.

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