Studies in Economic History Chikayoshi Nomura The House of Tata Meets the Second Industrial Revolution An Institutional Analysis of Tata Iron and Steel Co in Colonial India Studies in Economic History Series editor Tetsuji Okazaki, The University of Tokyo, Tokyo, Japan Editorial Board Members Loren Brandt, University of Toronto, Canada Myung Soo Cha, Yeungnam University, Korea Nicholas Crafts, University of Warwick, UK Claude Diebolt, University of Strasbourg, France Barry Eichengreen, University of California at Berkeley, USA Stanley Engerman, University of Rochester, USA Price V Fishback, University of Arizona, USA Avner Greif, Stanford University, USA Tirthanker Roy, London School of Economics and Political Science, UK Osamu Saito, Hitotsubashi University, Japan Jochen Streb, University of Mannheim, Germany Nikolaus Wolf, Humboldt University, Germany Aims and Scope This series from Springer provides a platform for works in economic history that truly integrate economics and history 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Sciences Osaka City University Osaka, Osaka Japan ISSN 2364-1797 ISSN 2364-1800 (electronic) Studies in Economic History ISBN 978-981-10-8677-9 ISBN 978-981-10-8678-6 (eBook) https://doi.org/10.1007/978-981-10-8678-6 Library of Congress Control Number: 2018934886 © Springer Nature Singapore Pte Ltd 2018 This work is subject to copyright All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed The use of general descriptive names, registered names, trademarks, service marks, etc in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations Printed on acid-free paper This Springer imprint is published by the registered company Springer Nature Singapore Pte Ltd part of Springer Nature The registered company address is: 152 Beach Road, #21-01/04 Gateway East, Singapore 189721, Singapore Preface This monograph is one result of research done over the past seventeen years, during which I have accumulated many debts of gratitude in Japan, India and the UK Among all these “creditors” who have, over the years, lent their expertise and guidance to sustaining and developing my work, my deepest debt is without a doubt to my graduate school academic advisors, Emeritus Professors Yonosuke Hara and Nariaki Nakazato at the University of Tokyo’s Institute of Oriental Studies, both of whom have been to me much more than just teachers and supervisors as mentors and colleagues Professor Hara is a scholar who has always tried, mainly through personal example, to impart to his students the basic values of deep curiosity, creativity and the courage to take positions fearlessly and firmly against mainstream ideas and standard narratives Moreover, the advice he lent from the perspective of development economics was instrumental in helping me organize my arguments about the development of modern business enterprises It was Prof Nakazato who beginning in the late 1990s led me intrepidly into the genuine study of Indian history, taking time out from his own brilliant research to impart constant advice to what he probably considered just another floundering student of colonial India Both his intelligence and tolerance have constantly lighted the way for this long and winding journey on a quest to write something original and informative about the business and economic history of India under the Raj I would also like to express my deepest appreciation to Profs Yukio Ikemoto, the late Haruka Yanagisawa, Toru Yamamoto, Yukihiko Kiyokawa, Takashi Kurosaki and Keijiro Otsuka, who were always ready with constructive and perceptive comments concerning my ideas During my fulfilling life abroad studying in India for two years beginning in February 2000, Dr Sugata Mukherjee, my local academic advisor and former professor at the Centre for Study in Social Science, Calcutta, gave this rather lost and confused Japanese student, with no one else to turn to, such unselfish help and conscientious care, not only in the classroom, but more importantly in the rigours of surviving daily life in Calcutta, making my stay both a productive enterprise and a pleasant life experience My deep appreciation also goes out to Emeritus Professor Rajat K Ray of Presidency College and Emeritus Professor Benoy Chaudhuri of v vi Preface Calcutta University, who graciously shared their precious time with me, giving me both invaluable instruction and informative comments about my work I would like to thank once again everyone I was privileged to learn from and study with while in India I would also like to express my thanks to Emeritus Professor Brian Tomlinson and Professor Lawrence Sáez at University of London’s School of Oriental and African Studies for allowing me the affiliation and credentials necessary at their institute, thus providing precious access to otherwise unreachable archival materials in the UK Without their generous support and understanding, some of the chapters of the present monograph could never have been completed Speaking of sources, most of the documentation used to prepare the present work is contained in the Tata Steel Archives located at Tata Steel’s Russi Mody Centre for Excellence in Jamshedpur and the Tata Central Archives in Pune, where I was a frequent visitor from early on when the idea of this study was still forming in my mind In Jamshedpur, I incurred a huge debt of gratitude to Mr Sanjay Singh, then director of Tata Steel’s Corporate Communications Department, and Messrs Viraf M Mehta and Rajiv Soni, divisional managers of the department, all of whom patiently allowed me to study the invaluable documents under their care for hours on end I would also like to express my heartfelt gratitude to the Russi Mody Centre’s faculty and library staff, who assisted in my daily work there, including Messrs H Raghunath, Farzan R Heerjee, Purnendu Bose, Manoj Kumar, Ahmad, Hossain, Bappa Mandal and Binoj Kumar While in Pune, I was extremely fortunate to have met the kind acquaintance of Messrs Rejendra Prasad Narla and Rajiv Adangale, without whose knowledge I could not have figured out the House of Tata’s capitalization strategy during the 1910s Besides the two Tata Archives, I had the opportunity to consult valuable archival materials at the British Library, the National Archives of India, the Maharashtra State Archives, the Centre of South Asian Studies Archives of University of Cambridge and University of Dundee Archive Service, all of whose staff I owe my deepest appreciation for their professionalism and consideration Parts of the present monograph have been previously published in academic journals and thus would like to thank the Indian Economic and Social History Review, Modern Asian Studies and International Journal of South Asian Studies for their kind understanding in allowing me to reprint portions of articles I published there.1 Nomura, C (2011) Selling steel in the 1920s: TISCO in a period of transition Indian Economic and Social History Review, 48(1), Copyright © [2011] (SAGE Publications) Reprinted by permission of SAGE Publications; Nomura, C (2014) The origin of the controlling power of managing agents over modern business enterprises in colonial India Indian Economic and Social History Review, 51(1), Copyright © [2014] (SAGE Publications) Reprinted by permission of SAGE Publications; Nomura, C (2012) Why was Indian steel not exported in the colonial period?—The influence of the British standard specification in limiting the potential export of Indian steel in the 1930s Modern Asian Studies, 46(5), Copyright © [2012] (Cambridge University Press) Reprinted by permission of Cambridge University Press; Nomura, C.(2010) Development of labour management system of industrial enterprise in colonial India: A case study of the Tata Iron and Steel Company International Journal of South Asian Studies, 3, Copyright © [2010] (The Japanese Association for South Asian Studies) Reprinted by permission of The Japanese Association for South Asian Studies Preface vii Last but not least, I would like to dedicate this monograph to my parents, Tadashi Nomura and Noriko Nomura, and my wife and son, Ikuko and Torao, who have supported me with limitless love and encouragement throughout the research and writing stages Osaka, Japan Chikayoshi Nomura Contents 12 19 23 24 26 30 41 47 47 50 54 56 Introduction 1.1 The Research to Date 1.2 A Different Perspective 1.3 A Review of the Research to Date on TISCO During the British Colonial Period 1.4 Summary References The Development of the Modern Business Corporation in 19th Century India: Building the Foundations for the Emergence of TISCO in the 20th Century 2.1 Developments in the Modern Business Corporation During the 19th Century 2.2 Economic Policy, Transportation Facilities, Energy Sources and Improvements in Market Integration 2.3 Capital Transactions: Company Legislation, Stock Exchanges, and Managing Agents 2.4 Labour Transactions and the Management Subcontracting System 2.5 Limited Growth of the Iron and Steel Industry Under Contradictory Government Policies 2.5.1 The Development of the Iron and Steel Industry in India in the Second Half of the 19th Century 2.5.2 Changes in Government Economic Policy 2.5.3 BISCO’s Failure to Produce Competitive Steel References ix x Contents TISCO During the Decade of the 1900s: The Formation Period 3.1 The Formation of TISCO Under 19th Century Settings 3.1.1 The House of Tata During the 19th Century 3.1.2 The Dream of an Iron and Steel Venture and Evolving Government Policy 3.1.3 The Search for Minerals 3.1.4 Three Blueprints in the Formative Stages of the Tata Iron and Steel Venture 3.1.5 Capital Funding 3.2 TISCO’s Corporate Structure and Managerial Hierarchy 3.2.1 The First Tier: The Shareholders (Board of Directors) 3.2.2 The Second Tier: Managing Agents 3.2.3 Tier Three: General Manager and Staff 3.2.4 Tiers Four and Five: Foremen and Millhands 3.3 Conclusion References 61 62 62 64 67 70 75 83 83 87 90 93 96 100 Initial Failure to Produce Competitive Steel, Capitalization Problems and the Institution of an Internal Financing System 4.1 Quality and Cost Challenges Facing TISCO During the 1910s 4.1.1 Producing the World’s Cheapest Pig Iron 4.1.2 Setbacks in Steel Production and Market Segmentation Regarding Quality 4.1.3 India’s Strong Preference for BSSS and TISCO’s Response 4.2 The High Cost of Steel Conversion 4.2.1 Low Labour Productivity 4.2.2 Fixed Capital Problems 4.3 World War I, GES and Internal Financing 4.3.1 The Outbreak of the War and Its Impact on the Iron and Steel Market 4.3.2 GES and Its Realization 4.3.3 Preparations for Internal Financing 4.4 Conclusion References 111 120 122 124 129 130 133 140 144 146 Labour Unrest and the Introduction of a Direct Labour Management System 5.1 The Outbreak of Labour Unrest at TISCO in the Early 1920s 5.2 The Impact of Wartime Inflation on Real Wages 5.3 Post-GES Industrial Accidents on the Rise 149 151 163 168 103 104 104 108 Bibliography (Unpublished Primary Sources Only) India National Archives of India, Delhi Proceedings Proceedings Proceedings Proceedings of of of of Department Department Department Department of of of of Commerce and Industry External Affairs Industry Revenue and Agriculture Maharashtra State Archives, Mumbai Financial Department File Tata Central Archives, Pune Minutes of the Meeting of the board of directors of TISCO Papers P N Bose Papers Tata Steel Archives, Jamshedpur Annual report of TISCO A Dalal Papers Chairman’s Addresses 1914-1938 Papers Company’s Formation Papers C P Perin, Report of Plant Extension C P Perin and C M Weld, Perin and Weld Report General Managers’ Correspondence Papers Ginwala Papers Indianization Programme Papers Industrial Relations Papers Kennedy Papers © Springer Nature Singapore Pte Ltd 2018 C Nomura, The House of Tata Meets the Second Industrial Revolution, Studies in Economic History, https://doi.org/10.1007/978-981-10-8678-6 273 274 Bibliography (Unpublished Primary Sources Only) Padshah Papers Supervisors’ News Letters Tariff Board Papers Tata Sons Limited Papers TISCO Review Visvesvaraya Paper Weld Papers UK Oriental and Indian Office Collections, British Library, London L/E/7 L/E/9 Cambridge South Asian Archive, Cambridge Benthall Papers University of Dundee Archives, Dundee MS 86/1/6/1 Index A Abyssinian expedition, 62 Accident, 157 Accident rate, 168 Acting allowance, 211, 235 Adaptation of borrowed technology, 125 Adhesiveness, 10, 11, 270 Admission standard, 175 Admissions policy, 175, 178 Afghanistan, 260 Agarwala, 151 Agency house, 40 Agricultural production, 188 Ahmedabad, 39, 63, 161 Ahmedabad Advance Mills, 63, 87 Ahuja, D C., 231, 237, 238 Aiyyaswamy, P., 236, 237 Alexander, C A., 91, 211, 214, 224, 226, 236–238 All-India Trade Union Congress (AITUC), 159, 214, 219 Amagasaki Bouseki, 26 Amatori, F., 6, American Iron and Steel Institute, 116 Ammonia recovery plant, 126 Andra Valley Power Supply Co., 87 Andrews, C F., 159, 160, 163, 211, 212, 231, 237 Angles (steel), 55, 130 Animal spirit, 266, 271 Anstey, V., Arbitrary rule, 210 Arbitration rule, 134 Argentina, 115–117 Aspirations of nationalistic business, 267 Asymetric information, Atchison, Topeka, and Santa Fe Road System, 25 Austerity policy, 183 Australia, 2, 72, 115–117, 125, 258 B Babington-Smith Committee, 187 Bachelor’s degree, 175 Bagchi, A K., 4, 9, 10, 27, 42, 127, 136, 155, 266 Bahl, V., 9, 11, 124, 208, 215, 222, 226 Bailey, D., 38 Balance of payment, 31 Banerjee, D., Bank lending, 36 Bank of Japan, 32 Bank rate, 31, 32, 35, 134 Bankruptcy, 13, 37, 184, 191 Bari, Abdul, 228 Baroda, 62, 80, 129 Barrakur, 48 Bar (steel), 55, 93, 130, 177, 185, 259 Basu, Saroj Kumar, Basu, Subho, 8, 41 Bazaar rate, 32 Bear, L., 98 Beck, L., 110 Behadur, 78, 80 Belgium, 109, 110, 115–117, 260 Bengal Iron and Steel Company (BISCO), 14, 16, 51–56, 61, 62, 65, 69, 71, 72, 96, 103, 104, 108, 262, 263 Bengal Iron Companies, 261, 262 Bengal Iron Works (BIW), 48, 49 © Springer Nature Singapore Pte Ltd 2018 C Nomura, The House of Tata Meets the Second Industrial Revolution, Studies in Economic History, https://doi.org/10.1007/978-981-10-8678-6 275 276 Bengali, 159, 180, 218, 221 Benthall, A P., 137 Benthall, E C., 137, 138, 262–264 Bessemer process, 48, 110 Betts, F., 37, 38 Bhar, Teha Singh, 179 Bhawnagar, 84 Bhelatand coal property, 70 Bihar Legislative Assembly, 228 Bilimoria, A J., 76, 83, 88, 94, 155 Billet, 248, 252, 259 Bird & Co, 136–138 Bird and Heilgers, 88 Birla jute, 129 Birla, Ghanshyamdass, 129 Biswas, Nagendra Nath, 211 Black sheet, 196, 197, 256 Blacksmith, 167, 229 Blast furnace, 15, 49, 71, 74, 75, 90, 92, 100, 107, 144, 170, 175–177, 179, 229, 230, 247 Block capital, 14, 18, 19, 142 Bloom, 121, 252 Blueprint, 67, 70–73, 94, 125, 126 Board of directors, 40, 45, 73, 76, 83, 85–87, 89–91, 93, 117, 133, 140, 142, 144, 152, 160, 161, 163, 173, 174, 179, 190, 213, 219, 220, 225, 242, 258, 261 Board of Industries and Munitions, 191 Bogart, D, 28 Boiler furnace, 213 Bombay Chronicle, 214, 216 Bombay Millowners Association, 45 Bombay Stock Exchange (BSE), 39, 40, 136, 139 Bombay Stock Exchange Enquiry Committee, 40 Bona fide, 51, 113 Bonus, 18, 153, 155, 165, 211–213, 218, 220, 222, 233, 243, 244, 246 Bose, P N., 68, 69 Bose, Subhas C., 221 Brand name, 252, 261, 263 Brazil, 41, 115–117 Bricklayer, 229 Bridge, 221 British Empire, 115 British Engineering Standards Association, 114, 115 British Iron and Steel Federation (BISF), 116, 255, 264 British model, 67 British Standard Specification, 75, 108, 113, 114, 184, 194, 196, 255, 256, 267, 271 Index Brisith Standard Specification steel (BSSS), 108–111, 113–115, 117, 119, 120, 196, 252, 255–261, 263, 265, 267 Broad gauge railway, 116, 117 Bryant, 238 Buchanan, D H., Bureau of Railway Economics, 24 Business philosophy, 139 By-product, 145 C Calcutta Stock Exchange Association, 39 Camp, J M., 93 Capacity of the state and the market, Capital formation, 10, 14, 19, 76, 199, 201 Capitalization problem, 127 Capital-labour ratio, 123, 125 Capital market, 37, 140, 144 Capital productivity, 28 Capital scarcity, 32, 125 Capital transaction, 13, 24, 39, 75 Carbon, 110, 111, 119 Carnatic Mills, 25 Carnegie, Andrew, 66 Carpenter, 167, 229 Cassis, Y, 88 Central India Spinning, Weaving and Manufacturing Company, 63 Central Provinces, 49, 64–66, 68, 71, 97, 180 Chakrabarty, D., 8, 137 Chakravorty, Byomkesh, 153 Chamanlal, Dewan, 159 Chanda, 64, 65, 67, 68 Chandavarkar, R., 8, 46, 239 Chandler, A D Jr., 6, 8, 14, 251 Chandra, B., Charlesworth, N., 32, 192 Chatterjee, Nimal, 151 Chatterji, B., 194 Chaudhary, L., 7, 28, 38 Chaudhuri, M R., 52 Chemical component, 111 Chemical composition, 110 Chetty, Singaravelu, 214 Chew, H., 237 Chicago, Rock Island, and Pacific Road System, 25 Chinese gold, 62 Cif price, 112 Clark, G., 207 Clark, V S, 207 Class consciousness, 11, 208 Class formation, 219 Clerical worker, 98, 232 Index Cleveland, Cincinnati, Chicago and St Louis Road System, 25 Clifford, 238 Coal, 8, 12, 28, 29, 40, 43, 47–49, 52, 64, 67–71, 74, 105, 107, 128, 132, 186, 190, 249, 263 Coal field, 29, 48, 70 Coal industry, 28, 29, 135 Coke, 48, 72, 74, 105–107, 165, 217, 219, 221 Coke oven, 92, 169, 179, 180, 230, 231, 236, 237, 248 Collective action, 207–209, 211 Colli, A., 8, 36 Collins, W., 30 Colonial India, 1–9, 11, 12, 14, 16, 18, 23, 24, 26–33, 35–47, 52, 61, 67, 83, 84, 88, 95, 97, 107, 111, 124, 125, 153, 164, 173, 178, 208, 238, 255, 266, 270–272 Colonial state, 4, Coloured yarn, 187 Commercial Intelligence and Statistics, 188, 260 Commercial policy, Commission based on gross revenue, 63 Commission based on net profit, 63 Commonwealth, 257, 258, 267 Communist, 66, 211, 213, 232 Community, 41, 46, 76, 139, 140, 219 Comparative advantage, 27 Competitiveness, 15, 27, 52, 105, 107, 121, 132, 194, 196, 251, 255, 256 Complementary relationship, 10 Conciliation committee, 159–161 Confectionery, 195 Congress Party, 227 Construction, 23, 27, 28, 38, 41, 51, 53, 54, 73, 74, 76, 86, 125, 130, 133, 141, 230, 235, 252, 271 Consulting engineer, 66, 67, 109, 133 Consumer, 3, 50, 266 Continent (European), 109, 111 Continental steel, 110, 112 Contingency fund, 137 Coolies, 73, 154, 212, 219, 244, 245 Corporate governance, 61 Corporate organization, 1, 2, 6–8, 10–12, 15, 16, 26, 45, 47, 63, 75, 88, 181, 202, 208, 237, 271 Corporate structure, 12, 61, 83, 88, 96, 99, 171, 178, 229 Cost sheet, 121, 132 Cotton boom, 39 277 Cotton goods, 194, 195, 266 Cotton mill, 8, 24, 27, 33, 42, 45, 63, 64, 67, 74, 75, 127, 128, 217 Cotton piece goods, 195 Cotton thread, 195 Cotton yarn, 27, 195 Council General for The Netherlands, 260 Council of State, Covenanted labour, 92, 100, 165, 176 Cowasji, 213 Crane driver, 211 Crowding out effect, 191 Currency Act, 187 Currency reserve, 187 Currimbhoy, Fazulbhoy, 84, 127 Cutlery, 195 Cuttack, 97, 219 D Dacca, 97 Dain, J R., 151, 155, 209, 215, 218, 220, 224, 227 Dai-Nippon Bouseki, 25 Davis, M., 23 Dalal, A., 257, 265 Dalal, D R., 108 Dalbhoom Syndicate, 74 Darlington, C R., 117 Das, C R., 159, 160 Datta, S B., 9–11, 218, 223, 228, 232, 243 David Mills, 87, 128 David, Sassoon, 76, 79, 83, 127, 141 Dealer, 108, 109 Debenture loan, 36, 76, 142, 190, 191, 201 Deferred share, 76, 86 Deflation, 13, 183, 184, 203, 246, 249 De Haan, Arjan, 239 Departmental strike, 210, 222 Depreciation and reserve fund, 140–142, 191, 198 Depreciation reserve, 137 Depression, 185, 203, 261 Deputy Inspector-General of Police (DIP), 154 Dewan, 84 Dey, Hirendra Lal, 200 Dhalli, 68, 69 Dhar, Mohini Mahon, 68 Dhavle, 160 Dickens, Charles, 48 Dinshaw, F E., 78, 79, 84, 86, 189 Direct labour management system, 10, 172, 173, 181, 238, 247, 251, 270, 272 278 Director, 65, 68, 72, 77, 86, 88, 91, 94, 109, 171, 189, 203, 215, 218, 257–260, 262 Discharge, 41, 44–46, 180, 211, 216, 234–237 Discount rate, 31 District Superintendent of Police (DSP), 154 Dividend, 19, 103, 134–138, 140, 141, 143, 144, 189, 190, 199, 240, 266 Division of labour, 6, 12, 62, 96 Dolomite, 186, 188 Double shift, 25 Dubley, C B., 25, 42 Duff, Thomas, 136 Duncan, Andrew, 48, 264 Duplex department, 242 Duplex furnaces, 216 Durg, 68 Durga Das Pvt Ltd., 220 Dutch East Indies colonial government (Indonesia), 260 Dutta, M., 74 Dysfunction in labour management, 150 Dysfunctional indirect labour management system, 163 Dysfunctional labour management system, 13, 178, 181 Dysfunctional stock exchange, 139 Dysfunctional stock market, 135, 138 E East India Company, 26, 31, 38, 48, 269 East Indian Railway, 25, 28, 29, 167 Ebrahim, Fazulbhoy Currimbhoy, 76, 83 Economic institution, 1, 2, 6, 7, 10, 18, 26, 41, 47, 75, 271 Economic liberalization, 269 Economic policy, 2, 4, 5, 23, 27, 30, 49, 52, 61, 190, 239, 269 Economic transaction, Economies of scale, 6, 8, 10, 18, 19, 49, 56, 124, 126, 145, 270 Educational background, 97, 98 Effects of tariff protection, 11, 198 Efficiency, 2, 10, 15, 16, 23, 28, 49, 56, 63, 149, 202, 209, 213, 233, 240, 241, 243, 247, 265, 267 Efficiency Enhancement System (EES), 240, 241, 246, 247 Elbaum, B L., 123 Electrical crane driver, 211 Electrical department, 242, 243 Electricity, 213 Elphinstone college, 62 Index Elwin, V., 9, 76 Employment, 3, 23, 25, 27, 42, 45, 46, 50, 86, 92, 95, 123, 172–174, 180, 207, 219, 228, 233–235, 237, 241, 266, 272 Employment relation, 171 Empress Mills, 25, 63 Encyclopaedia Britannica, 110 Energy, 12, 26, 29, 47 Engineer, 49, 84, 92, 114, 153, 229, 231 Engineer driver, 178 Engineering firm, 108, 109, 255 Equalization, 241 Everyday necessity, 188 Exchange bank, 36 Exchange rate, 2, 27, 35, 187, 188, 191, 203, 271 Expansionary monetary policy, 183 Export, 17, 29, 62, 72, 76, 125, 133, 196, 252, 254, 257, 259, 260, 263, 267 F Factor endowment, 1, 2, 4, 5, 11, 12, 33, 125, 271 Factor income share, 15 Factory act, 44 Factory commission, 202 Famine, 11, 43, 55, 56, 170, 213, 214 Fatal, 168 Federation of Malaya, 115, 117, 258 Financial crisis, 159, 184, 189, 190 Financial deepening, 31 Financial position, 82, 133, 152, 189, 199, 203, 262 Financial stability, 13, 189, 198 Findlay, R., 29 Fire brick, 71 Fireman, 229, 230 First Industrial Revolution, 8, 10, 12, 129 First World War, 13, 18, 27, 39, 44, 77, 88, 103, 129, 131, 149, 163, 173, 180, 183, 186, 192, 252 Fiscal austerity, 183, 252 Fiscal Autonomy Convention, 191, 194 Fiscal deficit, 183, 190 Fiscal policy, 13, 52, 203, 204 Fishplate, 252 Fitter, 98, 180, 229, 230 Fittings, 254 Fixed asset, 198 Fixed capital, 15, 18, 19, 36, 142 Foreign debt, 65, 187, 203 Foreign outlet, 9, 125, 256–258, 261, 267 Index Foreman, 81, 90, 93–96, 98, 99, 151, 155, 156, 168, 170, 174, 175, 177–180, 212, 213, 229–232, 234, 237, 245 Forward, 7, 65, 216, 217, 224 France, 88, 95, 106, 110, 115, 116 Francis, C B., 93 Fraser, L., 52, 53, 65 Freight rate concession, 74 Fuel productivity, 28 Fuji Gas Bouseki, 26 Fujino, Shozaburo, 35 Fujino, Siro, 35 Furnace and mixer repair cost, 122 G Galvanized plate, 252 Galvanized sheet, 130, 252 Gandhi, M K., 150, 158 Ganges Jute Mills, 25 Gary works, 90, 91 Gas producer, 224 Gazetteer of India, 51 General manager, 67, 74, 89–93, 95, 100, 104, 107, 114, 134, 151–153, 155, 168, 170, 171, 173, 177–179, 211, 212, 214–216, 219, 220, 222, 224–226, 229, 234, 236–238 General price, 104, 163, 187 General strike, 156, 216 Geological Survey of India (GSI), 67 Germany, 8, 36, 41, 49, 95, 110, 115–117, 259 Ghandy, J., 91 Ghosh, Jogesh, 157 Ghosh, Moni, 94 Ginwala, Padamji, 84, 258 Giri, V V., 212, 214 Goawami, T C., 159 Goculdas, Narottam Morarjee, 76, 83 Godo, Y., 125 Gold exchange standard, 26, 27, 29 Goldsmith, R., 30, 31, 36, 40 Gold standard, 27, 50, 53, 187 Gondwana, 29 Gorumahisani hill, 68, 69, 71 Gospel, H., 46, 95, 171 Goswami, O., 161 Government assistance, 24, 51, 55, 103, 124 Government of India, 16–18, 26–28, 31, 38, 39, 42, 44, 50–55, 65, 66, 106, 109, 111–113, 118, 123, 129–131, 133, 135, 162, 164, 165, 167, 181, 184, 186–188, 191, 192, 194–197, 199, 203, 207, 239, 255–257, 260, 261, 267, 270 279 Government of Japan, 26, 35 Government of UK, 46, 257, 267 Governor-general, 28, 51 Gower, L C B., 38 Gram, 163 Greaser, 229 Great depression, 2, 246, 257, 259, 260 Great Extension Scheme (GES), 77, 78, 85, 86, 89, 95, 103, 133, 134, 140, 144, 145, 149, 150, 157, 168, 170, 174, 180, 189, 190, 209, 266, 270 Great Indian Peninsular Railway, 25 Greif, A., Grey yarn, 187 Grievance, 157, 165, 179, 218, 232–234, 236 Gross fixed capital, 19, 78 Gross profit, 19, 143, 189, 190, 198, 200, 228, 246, 247, 251, 266 Growth accounting analysis, 10, 16, 149 Guarantee system, 38 Gupta, B., 4, 194, 208 Gupta, D C., 159 Gupta, P S., 4, 194 Gupta, S., 231, 238 H Halder, S., 151, 155, 180 Hamilton, George, 65 Hardware, 195 Haridas, Anandji, 222 Harris, F.R., 9, 62, 64, 66, 68, 73, 204 Hartal, 216–219, 224, 225 Hayami,Y, 125 Hazari, R K., 41 Heath, Josiah Marshall, 48 Heavy industry, 24, 33, 270, 271 Heavy structural steel, 117, 118, 184 Heycock (commissioner of Singhbhum), 155 Hicks, J R., 35 Hidden reserve, 137 High-quality steel, 115 Hilton Young Commission, 32 Hindu growth rate, 269 Hogan, W., 124, 145 Holding managerial structure (H-form), 88 Holland, T H., 52, 53 Homi, Maneck, 179, 212, 214, 234 Hoop, 254, 265 Horizontal integration, 14 House of Birla, 129 House of Tata, 2, 12, 61–63, 66, 76, 78, 84, 86, 87, 96, 144, 261, 263, 265–267, 269 Howrah Jute Mills, 25, 26 280 HRH Sardar Mohamed Hashim Kham, 260 Hundi (bills of exchange), 32 Hundi rate, 32 Hurd, J M., 28 I Iftikhar-ul-Awwal, A., 135 Imperial commitment, 186, 203, 267 Imperial Gazetteer of India, 27, 29 Imperial preference, 196 Import substitution, 251, 252, 254, 255 Incentive bonus, 243 Incentive-friendly protection, 201 Incentive mechanism, India office, 55, 113, 115 Indian Cement Co., 87 Indian Civil Service, 88 Indian Companies Act (1850), 10, 38, 63 Indian Companies Act (1857), 39 Indian Daily Mail, 221, 224, 237 Indian Factory Act, 44 Indian Hotels Co., 87 Indian Industrial Commission, 36, 191 Indian Iron and Steel Company (IISCO), 14, 16, 52, 262–264 Indian Retrenchment Committee, 183 Indian rupee, 50, 183, 185, 187, 203 Indian State Railway, 110 Indian stock market, 103 Indianization, 28, 175, 176, 246 Indigenous banking sector, 31 Indigenous capital, 103 Indirect labour management system, 10, 13, 93, 95, 99, 149–151, 163, 181, 208, 249 Induced technological innovation, 125 Industrial development, 4, 5, 33, 139, 178, 191, 202 Industrialization, 9, 24, 32, 33, 36, 41, 116, 125, 189, 192, 194, 208, 267 Industrialized country, Industrializing nation, 31 Industrial policy, 191, 192, 267 Industrial relations, 18, 172, 180, 186, 211, 230, 231, 235, 245, 247 Inflation, 28, 104, 156, 164, 165, 168, 172, 192 Informal connection, 40, 47, 76 Informational imperfection, 6, 26, 30 Infrastructure, 27, 42, 47, 54, 96, 130 Input coefficient, 105, 106 Input price, 185, 186 Inspection system, 104, 120 Inspector, 109, 119, 120, 152, 173, 179, 214, 227 Index Interest rate, 31, 32, 36, 135 Interest rate for long-term capital, 134 Intermediary, 45, 47, 96, 208 Intermediate product, 252 Internal financing system, 10, 13, 19, 78, 104, 144, 145 International Committee of the Scientific Organization of Labour, 241 International competitiveness, 9, 52, 54, 63, 77, 111, 121, 187, 256, 257 International Labour Office, 44 Interventionist policy, 12, 271 Intra-Asian trade, 62 Iron, 8, 11, 12, 14, 17, 24, 43, 47–55, 61, 62, 64–73, 89, 93, 95, 96, 98–100, 103–107, 111, 125, 127, 129, 131, 133, 168, 174, 175, 179, 185, 187, 212, 216, 239, 247, 257, 260–264, 266 Iron and steel industry, 8, 9, 47, 65, 68, 70, 109, 123, 129, 181, 257 Iron industry, 8, 24, 49, 51, 52, 68, 73 Iron ore, 12, 48, 49, 53, 64, 66–69, 71, 105, 106, 132, 186, 188, 262 Iron smelter, 68, 71 Irreducible minimum, 183 Ishii, Kanji, 25 J Jain, Padmaraj, 152 James, Frederick, 89 Jamshedpur, 8, 18, 49, 68, 74, 82, 84, 86, 89, 94, 97, 99, 113, 141, 142, 151, 152, 154, 156, 157, 159–162, 168, 179, 209, 211–213, 216, 219–221, 223–229, 232, 233, 236, 246, 248, 249, 257, 264, 265, 271 Jamshedpur Chronicle, 212, 223 Jamshedpur Labour Association (JLA), 150, 157–163, 178, 179, 208, 211–214, 216–219, 221, 223, 224, 226–229, 231–236, 238 Jamshedpur Labour Federation (JLF), 223–230, 232, 234, 235 Jamshedpur Town Social Welfare Union, 157 Japan, 5, 24–26, 29, 31–35, 46, 67, 72, 73, 104, 116, 117, 125, 127, 177, 208, 258, 259, 262, 263, 267, 271 Japanese yen, 26 Jehangir, J Cowasji, 76, 83 Jherria, 29, 70 Jobber, 45, 46, 63, 74, 94, 95, 163, 167, 168, 170, 171, 208, 237–240, 242, 249, 270 Johnson, W., 9, 76, 85 Index Joint stock bank, 37 Joint Stock Companies Act (1856), 38 Joint stock company, 1, 37–39 Jones, S., 41 Joshi, N M., 219 Julian Kennedy, Sahlin and Company, 66, 74 Jute mill, 24, 25, 42, 136, 167, 265 K Kalimati, 74 Kanegafuchi Bouseki, 26 Kanga, F M., 88 Keenan, J L., 91, 170, 226 Kennedy, Julian, 66, 73, 74 Kerr, I J., 28 Keynes, J M., 266 Khalasis, 210 Kharagpur, 25, 98, 99, 217 Kharagpur workshop, 214 Khardah Jute Mills, 26 Khattau, Gordhandas, 76, 83 Kirkpatrick, R., 227 Kiyokawa, Y., Kling, B., 41 Kohli, A., Kranton, R E., Krishnamurty, J., 42 Kumar, D., 192 Kuznets, S., 2, L Labour affluent economy, Labour conflict, 11, 208 Labour cost, 122, 209 Labour department, 99, 237 Labour Employment Bureau, 150, 171, 172, 181, 208, 237, 240 Labour-intensive, 125 Labour-intensive industry, 5, Labour legislation, 44, 162 Labour management, 2, 7, 8, 10, 11, 13, 14, 25, 44–46, 56, 63, 74, 94, 95, 150, 168, 172, 209, 236, 238, 240, 270 Labour management system, 10, 11, 13, 19, 45, 63, 95, 96, 123, 146, 170, 171, 175, 181, 184, 202, 207, 208, 228, 271 Labour officer, 237, 238 Labour Organization Department, 210, 211, 237, 238 Labour organizer, 237, 238 Labour productivity, 5, 11, 13, 16, 62, 103, 123, 132, 133, 145, 149, 150, 184, 198, 200, 202, 203, 207–210, 215, 240–242, 246, 247, 249, 251, 270 281 Labour relation, 9, 156, 226 Labour transaction, 10 Labour unrest, 13, 83, 95, 96, 157, 158, 163, 170, 171, 173, 179–181, 183, 207, 209, 222, 226, 228, 233, 238, 240, 243, 246, 249, 270, 271 Laissez-faire economic policy, 23, 26, 28, 30, 50, 61, 124, 181, 194 Lala, R., 9, 87, 88 Lamoreaux, Naomi R., 84 Lal, Damri, 151, 178 Lal, Deepak, 43 Landing charge, 112, 196, 197, 199, 256 Large-scale shareholder, 76 Latif, Abdul, 156, 179 Law of one price, 30 Lawyer, 212, 232 Layoff, 216 League of Nations, Legal recognition, 225 Legislative Assembly, 108, 160, 191, 193, 194, 202, 220, 257 Light structural, 184, 252, 254 Limestone, 48, 67, 122, 185, 186 Limited liability, 37–39, 51, 63 Limited Liability Act, 38 Liquid asset, 136 Living condition, 152, 172, 240 Lohara, 64 Lokanathan, P S., 8, 85 London Stock Exchange, 37, 38 London university, 68 Long-term capital, 19, 33–39, 41, 56, 75, 76, 103, 104, 124, 126, 127, 129, 130, 134, 136, 137, 140–142, 144, 189–191, 198, 201, 270 Long-term deposit, 134 Lord Curzon, 52 Lord Dalhousie, 28 Lord Ripon, 51 Lower management staff, 12, 13, 62, 92, 96, 168, 177, 178 M Machine operator, 98 Machinery, 8, 35, 49, 74, 94, 99, 114, 130, 136, 137, 185, 195, 249 Machine shop, 179, 219, 230, 242 Maddison, Angus, Maddison project, Madras and Southern Mahratta Railway, 25 Maharajah, 69, 78, 80 Maharaja Scindia of Gwalior, 76 Mahon Report, 65 282 Mahon, R H., 65, 67 Maistry, 45, 98, 174, 180 Malfunctioning stock exchange, 23 Management, 8, 11–13, 28, 38, 45, 46, 49, 62, 83–85, 87, 89, 90, 92, 94–96, 99, 100, 104, 119, 122, 124, 125, 127, 133, 134, 149–153, 155, 157–160, 162, 163, 165, 167, 168, 170, 171, 174–178, 181, 184, 199, 204, 207–215, 217–222, 224–229, 232–235, 237–241, 246, 249, 264, 266, 270, 271 Managerial efficiency, 10, 15, 19, 149 Managerial inefficiency, 149 Managing agency contract, 87 Managing agency system, 8, 24, 41 Managing agents, 7, 10, 12, 40, 45, 54, 63, 75, 76, 83, 85, 88, 265, 270 Manganese, 66, 67, 110 Market integration, 1, 12, 23, 24, 26–30, 44, 47, 49, 61, 67, 97 Market mechanism, 27 Market rate, 32 Market segmentation, 108, 111 Market share, 19, 111, 252 Market structure, 252 Markovits, C., 87, 89, 194 Marshall, S M., 171, 178 Martin and Company, 51, 54, 69 Mason, 229 Matches, 194 Mather, R., 222, 238, 259 Mather, R H., 89 Mayurbhanj, 68, 69 McAlpin, M., 28 McGuire, J., 38 McWilliam, Andrew, 109 Mechanics’ School, 173, 174, 176 Mechanization, 5, 32, 33, 125 Meier, G M., Melter, 93, 179 Metallic iron, 69 Metallurgical engineer, 66 Metal Workers Union, 227 Metha, Chunilal V., 84 Metha, Jamnadas, 220 Millwright department, 155, 179, 180 Mining license, 53 Mining regulation, 11, 52, 54, 65, 66 Misra, M., 41, 137 Mitchell, B R., 24, 185 Mitra, P C., 231, 238 Mitsui, 104, 259 Index Modern business corporation, 1–3, 10, 15, 18, 23, 35, 43, 61, 194 Modern business enterprise, 1, 4, 6, Modern economic growth, 3, 7, 33, 124 Monetary policy, 187 Monetization, 31 Moneylender, 32 Money market, 32 Money supply, 30, 31, 144, 183, 187 Monopolies Inquiry Commission, 41 Montagu, Edwin, 193 Moody manual, 49 Mookerjee, Bhiren, 264 Morarji, Narottam, 77 Morgan, J P., 66 Morris, John, 64 Morris, M D., 4, 201 Mortgage debenture, 189 Morton, G B., 138 Motich, Seth Chunlial, 39 Moulder, 229 Mukaddam, 45 Mukherjee, A., Mulky, M A., 84, 85 Multi-divisional, decentralized managerial structure (M-form), 88 Multifunctional structure (U-form), 88 Munitions board, 132 N Nagpur, 25, 28, 29, 38, 63, 64, 68, 74, 82, 98, 129, 214 Naidu, W V R., 214 Naoroji, Dadhabhai, 237 Nath, Baij, 238 National Council of Applied Economic Research, 41 Nationalist movement, 192 Native Stock and Share Brokers’ Association, 39 Natural protection, 103 Natural trade protection, 131 Navsari, 62 Nehru, Jawaharlal, 163 Nehru, Motilal, 160–162, 221 Neighbourhood, 46, 48, 219 Net Domestic Production (NDP) deflator, 3, 4, 32, 43, 130, 131, 135, 163, 165, 166, 188, 239, 246 New blooming mill, 93, 210 New Zealand, 115, 117, 258 Nigam, R K., Index Nissin Bouseki, 26 Nominal wage, 164–166 Nomura, C., 8, 134 Non-British Standard Specification Steel (NBSSS), 109, 111, 115, 196, 252, 257, 261 Non-galvanized plate, 252, 254 Non-galvanized sheet, 252, 254 Non-interventionist policy, 4, North, Douglass, 2, O Oba, H., Oil business, 63 Okazaki, T., 106, 125, 126 Ono, Akira, 35 Oonk, Gijsbert, Open hearth furnace, 15, 86, 92, 121, 123, 145, 175–177, 247, 266 Opium, 62 Ordinary share, 199 Organized (registered) manufacturing sector, 3, 25, 33, 42, 187, 207 O’Rourke, K H., 29 Osaka Godo Bouseki, 26 Ottawa Agreement, 112, 197, 257 Outsider, 158, 160, 161, 179 Overtime, 211, 235, 245 P Padshah, B J., 107, 109, 134, 190, 203, 259 Paid-up capital, 37, 63, 71, 128 Panagariya, A., 269 Pandey, S., Paranjapey, V K., 179 Parsi, 62, 76, 104 Partabgarh, 151 Patna, 225 Pattani, P D., 84 Pax Britannica, 129 Pay raise, 211, 234 Payroll, 97, 224, 226, 229 Peepal Gaon, 64 Pennsylvania Railroad Company, 25 Pennsylvania Road System, 25 Perin and Weld Report, 16, 52, 69 Perin, Charles Page, 66, 74, 262 Personal connection, 11, 12, 78, 94, 95, 150, 168, 181, 208, 242, 249, 270 Personnel affair, 89, 92 Peterson, John, 88 Phosphorous, 69, 110, 119 Picketing, 216, 217, 219–221, 224, 225 283 Pig iron, 14–18, 25, 48, 51, 52, 64, 71, 72, 75, 78, 103–108, 121, 144, 262, 263, 265 Pillai, P P., 48 Piore, M., Piping, 254 Pittsburgh, 66, 73, 74 Place, Siddons, and Gough (Private) Ltd., 26, 63, 142 Plate (steel), 130, 133, 214, 252 Political leader, 153 Population growth rate, 188 Portfolio investment, 129 Portugal, 116, 117 Postwar boom, 185 Postwar depression, 181, 187, 209 Postwar economic boom, 185 Power house, 179, 219 Preference share, 84, 86 Presidency bank, 36 Prestige director, 84 Price, 12, 13, 18, 29, 30, 33, 48, 51, 54–56, 70, 71, 73, 106, 108, 112, 120, 130, 131, 135, 136, 163, 164, 168, 183–185, 187, 188, 190, 196, 199, 200, 239, 255, 256, 259, 260, 266 Price index, 131, 185 Primary sector, 166, 188 Princely state, 62, 68, 78, 80 Private initiative, 6, 7, 23, 138 Prizes for good attendance, 63 Procter, E A., 114 Procurement, 61, 65 Production capacity, 13, 14, 18, 19, 48, 51, 52, 61, 86, 89, 103, 132, 133, 136, 145, 149, 252, 267 Production efficiency, 181 Production efficiency bonus, 243, 246 Production equipment, 1, 13, 34, 74, 90, 125, 136, 185, 271 Profit, 18, 46, 63, 71, 108, 132, 134, 137, 198–200, 226, 239, 243, 246, 261, 267 Profit-sharing scheme, 212 Promotion, 28, 41, 44, 46, 92, 95, 98, 99, 170, 178, 181, 211, 237 Prospecting license, 53 Protective tariff, 13, 14, 195, 201 Proto Novo, 48 Proxy, 86 Public initiative, 41 Public revenue, 192 Pune, 8, 68, 69, 86 Purchasing contract, 120 284 Q Quality, 11–13, 28, 48–51, 54, 68–70, 75, 97, 100, 104, 105, 107–111, 113–116, 118–120, 196, 255, 257, 261, 266 R Racial discrimination, 4, 232 Radhakrishna, B P., 68 Rahimtoola, Ibrahim, 222 Railway, 23, 25, 28–30, 37, 38, 42, 48, 50, 51, 53, 55, 63–65, 69, 74, 94, 98–100, 107, 108, 110, 111, 130, 134, 167, 168, 180, 214, 252, 255, 256, 271 Railway board, 74, 75, 120, 129 Railway company, 28, 37, 38, 55, 98, 99 Railway freight, 28, 74, 255 Railway workshop, 98, 99, 168 Raipur, 68, 97, 180 Rajhara, 68, 69 Raniganji, 29, 48 Rao, M A., 116 Rationalization, 181, 202, 207, 232, 264 Raw cotton, 62, 63 Ray, R K., Reading Road System, 25 Real exchange rate, 183 Real wage, 43, 164–166 Reconciliation, 219 Recruitment, 13, 41, 44–47, 49, 73, 94, 95, 97, 170, 171, 173, 181, 222, 239 Reed, S., 16, 193 Remuneration, 158, 159, 181, 207–209, 228, 243, 244, 246 Remuneration standard, 207 Reorganization, 78, 146, 159, 191, 209, 211, 226, 235 Report of Fiscal Enquiry Commission, 192 Report of Plant Extension, 133 Reserve Bank of India., 34 Retirement benefit, 63 Retrenchment fiscal policy, 23, 187 Retrenchment policy, 192, 208 Rezas, 212 Rice, 163, 164 Rider, T H., 9, 196 Risk, 4–7, 26, 30, 35, 37, 39, 41, 70, 124, 126, 134, 138, 168, 184, 190, 199, 215, 257, 258, 270 Robert, Benjamin, 68 Rolling mill, 74, 151, 178, 180 Rose, M., 41 Rothschild, N M., 38 Roy, N K., 179 Roy, T., 4, 9, 43 Index Royal Commission of Indian Currency and Finance, 188 Royal Commission of Labour, 45, 152, 225, 229, 232 Rules and regulations, 7, 39–41, 138, 157, 160, 163, 269 Rungta, R., 39, 40, 50 Rupee appreciation, 188, 203 Rupee appreciation policy, 11 Rupee exchange rate, 13, 190 S Sabel, C., Sahlin, Alex, 73 Sakchi, 86 Saklatvala, N B., 84, 214, 219, 257 Saklatvala, Shapurji, 66, 70 Sales and marketing organization, 134 Sales manager, 241, 259, 264 Salt, 163 Samaldas, Lalubhai, 84, 155, 222 Samant, D R., 84, 85 Sarang, 229, 230 Sarkar, Mukunda Lal (Mukundalal), 212 Sathy, Viswanath Janardan, 157 Satter, Abdul, 211 Sawday, S K., 89, 241 Scientific labour management, 240–242 Scott, J E., 155, 179 Second Industrial Revolution, 8, 9, 11, 12, 23, 104, 110, 129 Secretary of State, 51, 54, 65, 114, 133, 191 Self-sufficiency ratio, 14, 249 Selling agency, Semi-skilled workers, 93, 165, 168, 212, 229, 236, 249 Sen, I B., 153 Sen, S K., 29, 48, 50, 51, 120 Separation of ownership and management, 84 Servants of Indian Society, 157 Sethi, G., 231, 238 Sethna, Phiroze, 84 Settu Bouseki, 26 Shanker, Sheo, 179, 237 Share capital, 36–40, 51, 63, 75–78, 84–86, 140, 142, 144, 190, 191, 199–201, 240, 246 Share dealer, 39 Shareholder, 37, 78, 85, 86, 96 Shareholder composition, 76, 78 Shareholder meeting, 84, 85, 131, 132, 139 Share price, 199 Sharma, H., 232 Sheikh, Makdum, 99 Index Shirras, G F., 50 Sholapur Spinning and Weaving Company, 25 Shop floor, 47, 93, 95–97, 150, 156, 165, 168, 171, 181, 215, 228, 229, 236, 239 Shop floor worker, 12, 96, 97, 99 Short-term capital, 24, 31, 32, 34, 41 Shover, B R., 90 Shroff, K R., 40 Silica brick, 121 Silk goods, 62, 195 Silk piece goods, 195 Silver price, 185 Silver standard, 27 Simeon, D., 9, 10, 211, 212, 219, 221, 227 Simmons, C., 70 Singhbhum, 53, 97, 151, 152, 163, 164, 179, 209, 214, 217 Singh, Rameshwar, 78, 80 Singh, Ruhr, 160 Singh, Teja, 155, 156, 180 Singh, Thaker, 237 Sinha, P C., 178 Sivasubramonian, S., 3, 18, 43, 188 Skill, 123 Skilled labour, 42, 43, 99, 164, 165, 167, 170, 173, 209, 214, 229, 236 Skilled workers, 99, 100, 167, 177, 208, 211, 229, 236 Slab, 252 Sleepers, 252 Small and medium shareholder, 85 Social experiment, 26 Solow, R M., 15 Spain, 41 Spiegelman, R G., 9, 10, 55, 193, 202 Spindle, 24 Sporadic strike, 209, 236 Stakeholder, 62 Standardization, 210, 232, 241–243 Standardized wage, 242 Standard Mills, 87 Steel, 4, 8, 9, 11–19, 28, 43, 47–52, 54–56, 61, 62, 64–73, 75, 82, 88, 89, 95, 96, 99, 100, 103, 108–113, 115–117, 119, 121, 122, 124, 125, 129–134, 145, 160–162, 168, 170, 171, 174, 175, 177, 184–187, 189, 191–198, 202, 203, 209, 210, 212, 216, 217, 224, 228, 239, 241, 242, 247, 249, 251–253, 255–267, 271 Steel Industry (Production) Act (Act No XIV of 1924), 193 Steel Industry (Protection) Act of 1927, 257 Steel Industry (Production) Act No XXXI of 1934, 193 285 Steel Industry (Protection) Bill, 160 Steel ingot, 15, 75, 121–123 Steel production, 12, 14–16, 24, 47, 49, 50, 70–73, 93, 96, 98, 100, 108, 121, 123–126, 132, 133, 145, 179, 184, 186, 199, 215, 247, 251, 262, 266 Steel rail, 51, 54, 110, 111, 117, 120, 195, 199, 255 Sterling pound, 13, 25, 27, 50, 187, 189, 204 Stock exchange, 40, 138 Stock Exchange Enquiry Committee, 40 Store purchase, 50, 51, 55 Store Purchasing Committee, 55 Strike, 150–153, 155, 157–159, 165, 171, 179, 180, 188, 209, 211–215, 219, 221, 228, 229, 232–234, 236, 240, 246 Strike committee, 179, 211 Strip, 254 Structural section, 196, 256 Studer, R., 29, 30 St Xavier’s College, 212 Subaltern group, 11 Subcontracting system, 24, 41 Subedar, Manu, 159 Sugar, 4, 39, 195 Sugayama, Shinji, 177 Sukul, 152 Sulphur, 107, 110 Superintendent, 65, 67, 68, 86, 91, 92, 107, 152, 156, 167, 171, 173, 175, 176, 214, 217, 227, 233 Supervisor, 100, 179, 231, 232 Surat, 97 Sustainable growth, 251 Swadeshi Mills, 63, 87 Swain (Deputy Inspector General of Police), 152 Swamy, A V., Swarajist, 160 Swaraj Party, 160 Sweeney, S., 38 T Takamura, Naosuke, 25 Tariff, 2, 4, 10, 12, 13, 23, 26, 27, 29, 50, 161, 181, 184, 191–203, 207, 210, 239, 255–257, 261, 266, 267 Tariff board, 82, 88, 89, 109, 118, 160, 176, 184, 186, 193, 195, 201, 202, 207, 209, 210, 212, 232, 237, 240–243, 247, 249, 255, 266 Tariff rate, 27, 192, 195, 198, 199 Tata Central Archives, 8, 68 Tata, D J (Dorabji), 67, 69 286 Tata Hydro-Electric Power Supply Company, 87 Tata Iron and Steel Company (TISCO), 2, 8–16, 18, 19, 24, 37, 45, 47, 56, 61, 62, 65–67, 70, 74–79, 83–91, 93–97, 100, 103–105, 109, 113, 119–127, 129, 132, 133, 135, 140, 141, 143, 144, 150, 151, 153, 155, 160, 163–167, 169–173, 175, 177–179, 183–186, 188–191, 194, 196–204, 207–215, 217, 221–224, 226–229, 232, 233, 235–249, 251, 252, 254–267, 270–272 Tata, J N., 9, 62–67, 69, 73, 126 Tata, J R D., 87, 222, 259 Tata, M A., 153 Tata limited, 87, 88 Tata mills, 63, 87 Tatanagar, 154, 197, 199, 256 Tata, Nusserwanji, 62 Tata Oil Mills Company, 87 Tata, R D., 72, 73, 86, 88, 126, 131, 132, 152, 153, 161–163, 171 Tata Sons, 63, 73, 77, 78, 83, 84, 86–92, 94–96, 99, 104, 109, 117, 119, 120, 122, 127, 134, 155, 176, 191, 203, 221, 222, 224, 225, 238, 257, 261, 263, 265 Tata Steel Archives, 8, 16, 18, 49, 68, 77, 82, 87, 89, 97, 106, 109, 118, 121, 122, 135, 141–143, 172, 176, 180, 184, 186, 191, 199–201, 211, 230, 231, 235, 236, 241, 245, 247, 248, 255, 257 Tata Technical Institute, 150, 171, 174, 175, 178, 181 Tata Worker’s Union, 228 Taylor, [F W.], 241 Tea, 39, 62, 128, 135 Technical staff, 12, 120 Technological efficiency, 10, 15 Tees (steel), 55, 130 Temin, Peter, 84 Tertiary sector, 188 Textile industry, 3, Thacker’s directories, 87, 88 Thackersey, Vithalds Damodher, 76, 83 Thakkar, A V., 157 Thakore Saheb of Morvi, 80, 83 Thakurdas, Purshotamdas, 84 The Tatas, 9, 12, 61–63, 65, 67–75, 83, 86, 88, 89, 96, 103, 105, 126, 127, 162, 191, 261, 263–265 Thomas, P J., 39, 40, 135, 136, 138, 139 Times of India, 160, 215–218, 220, 224, 233 Tinplate company, 232, 236 TISCO Review, 2, 12, 19, 134, 215 Index Titaghur Jute Mills, 25 Tobacco, 195 Tomlinson, B R., 9, 48, 124, 186 Total Factor Productivity (TFP), 10, 13, 15, 16, 18, 19, 145, 149, 181, 184, 202, 208, 240, 247, 251 Town plan, 240 Town planning program, 133 Toyo Bouseki, 26 Toyo Keizai, 26, 34 Trade Dispute Act (1932), 44 Trade surplus, 30, 144, 183, 187 Trade union, 44, 45, 150, 160–163, 178, 181, 212, 217, 219, 225, 270 Trade Union Act (1926), 219 Traffic department, 231, 242 Transportation, 3, 12, 26, 28, 29, 48, 49, 64, 69, 105, 133 Tripathi, D., Turner, 114, 115, 229, 230 Turner, E J., 113 Turnover, 216, 235, 236 Tutwiler, T W., 90, 151, 177, 212 U Ultimatum, 153, 220 Uncertainty, 4–6 Underwriter, 78 Union of South Africa, 115–117, 258 United Nations, 116, 117, 258, 259 United Nations (1961) Statistics of world trade in steel Geneva: United Nations, 115 United Provinces, 97, 151 Unlimited liability, 37 Unorganized (unregistered) manufacturing sector, Unskilled labour, 33, 42, 208, 210, 236 Unskilled worker, 94, 219, 229 Urbanization, 252 Urban population, 252 US Civil War, 39, 62 US model, 67 US Steel, 66, 90, 95, 124, 133, 145 V Vacant post, 210, 234 Variable cost, 105, 122 Varma, 238 Velocity of money circulation, 31 Vertical integration, 14, 251 “Victorian” era, 23 Visaria, L., 188 Visaria, P., 188 Visvesvaraya, Mokshagundam, 203 Index Vocational background, 97 Voluntary Provident Fund, 63 Von Schwarz, R C., 48, 49 Voting right, 86 W Wacha, D., 64 Wage, 5, 30, 33, 41–44, 122, 123, 151, 152, 155, 159, 165, 166, 168, 171, 172, 178, 179, 188, 207, 209, 211, 218, 232–234, 240, 242, 243, 271 Wage index, 42, 164, 165 Wage-rental ratio, 33, 125 Wagle, D M., 9, 109, 196 Wagons, 133 Walford, 173, 174 Wallace, D., 25 Warora, 64 Weld, C M., 16, 49, 67, 69–71 Welfare, 41, 44, 46, 95, 140, 155, 172, 190, 219 287 Welfare scheme, 240 Wells, R C., 90 Wheat, 163 Williamson, Oliver, Wills, C U., 65, 66 Wolcott, Susan, 207 Woolsey, A E., 90, 91, 107, 109 Working class, 9, 11 Working condition, 45, 155, 157, 178, 213, 240 Workload, 234, 243 Work relation, 100 Works committee, 156 World standard, 23, 125 World steel production, 115 Wrought tubing, 254 Y Yakub Khan, 211 Yawata Steel Works, 125, 177 ... During the Decade of the 1900s: The Formation Period 3.1 The Formation of TISCO Under 19th Century Settings 3.1.1 The House of Tata During the 19th Century 3.1.2 The Dream of an... are the rules from the players The purpose of the rules is to define the way the game is played But the objective of the team within that set of rules is to win the game—by a combination of skills,... in the process delving into the large collection of documents related to the Tata Iron and Steel Company (TISCO), which has been carefully preserved in the archives of the House of Tata, the