Many of these entrepreneurs now own some the country's biggest companies in sectors such as automobiles, automobile ancillaries, consumer durables, metals, mobile telephony, pharmaceuticals, and chemicals. Older business groups that failed to enter these sunrise sectors and remain wedded to older industries such as textiles or agro-based consumer products declined in importance over the years.
The role of portfolio is clearly visible in the continued dominance of the Tata and Birla groups. The Tatas, for example, were one of the first to exit textiles and invest in emerging sectors such as automobiles and informational technology. The Birlas, on the other hand, made big bets on cement, non-ferrous metals and telecom.
These industries now dominate their portfolios. Family-owned businesses are once again at the cross-roads with many struggling with poor domestic and global growth coupled with high indebtedness in many of their key companies. At the same time, they face challenges from first-generation businesses or multinationals, which have none of the historical baggage that business groups carry.
Experts, however, do not see any immediate danger to the dominance of family firms in India, given their deep roots in the economy. Sign in Create a Rediffmail account. August 28, IST. Get Rediff News in your Inbox: email. Print this article.
American help was welcome but only in the form of essential plant and equipment under Indian control. Thakurdas refused outright to meet with the mission, but G. The assumption that Indian businessmen spoke out as a united class against the mission does not bear scrutiny.
With regard to the steel industry, it recommended the expansion of TISCO plant capacity and the procurement of additional equipment and production engineers from the United States. The Government of India agreed to spend Rs.
Nor could they give the impression of supporting it too enthusiastically. Roy had spotted the bind they were in, making the lukewarm response to the Grady Mission a centerpiece of his case. The problem faced by Tata, Birla, Thakurdas, and the various factions they represented was not the desirability of American involvement per se, which could be downplayed in public, but how to position themselves behind the scenes in order to benefit from the seemingly inevitable geopolitical ascent of the United States.
For its part, the colonial government not only disregarded the Grady report but actively suppressed its findings about the underdeveloped state of Indian industries. Industries equipped with American plant and organized by American technicians must in the future turn more and more to the United States for renewals, replacements and future developments. The US military, wary of the political instability caused by the Quit India movement and the prospect of an imminent Japanese invasion in the summer of , refused to sanction the export of a new blast furnace for TISCO.
The promised extensions to the Jamshedpur plant never materialized. The failure of the Grady Mission affected the Tatas more than anyone else. You must login to keep earning daily check-in points. Lifetime 0 Expired 0 Redeemed 0. Total redeemable TimesPoints 0. Fri, Nov 12, Updated Notification Center. News » Tata Birla. Skoda plans to make electric cars in India.
Pros turn cold greens red hot with low scoring at Jeev tourney. Tata Steel Q2 net profit jumps manifold to Rs 12, crore.
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