Aug 15, 2017 03:47 PM IST |
From Tata to SBI, here are some facts about big business conglomerates you may not know
Moneycontrol News
Although 70 years is a long time since Independence, the roots of our economy were established by some pioneering minds and institutions much before the British left.
There have been many big business conglomerates that have helped transform India. Here are some interesting stories about a few such companies:
Air India's first passengers were not humans
The company first began operations as a mail carrier, Tata airlines. With two single engine airplanes, JRD Tata took the first flight on October 15, 1932, from Karachi to Mumbai before finally stopping at Chennai. He was joined by Royal Air Force pilot Neville Vintcent. Unlike its current conditions, Air India in its heydey was known as a world-class airline, lauded for its quality service.
The Story Behind The Taj Hotel
One of the most famous Tata stories was, how the Taj Hotel came into being in 1906 when founder Jamsetji Tata, in a fit of anger, decided to open a world-class hotel after being denied entry in the famous Watson Hotel by the British. The hotel was carefully designed by architects and designers after Tata’s many trips to Pais, London and Berlin to research on hotel benchmarks. The Taj at the time was also known as the first hotel with electricity.
Mahindra & Mohammed
Mahindra & Mahindra, or Mahindra & Mohammed? JC Mahindra was the first steel controller of India, in charge of importing steel for the country. His younger brother KC Mahindra was the chairman of the coal commission. They quit their prestigious jobs and sold their Calcutta house to establish Mahindra and Mohammed, after roping in partner Ghulam Mohammed. Post partition, when Mohammed emigrated to Pakistan, they renamed the company as Mahindra & Mahindra.
When SBI had an 'Imperial' Moment
The State Bank of India (SBI) was at one time, called the Imperial Bank of India. It was printing currency till 1861 before the Government of India was handed over that responsibility.
Bombay Dyeing
Before it began to be named for quality textiles, the 250-year-old Bombay Dyeing group was into marine construction, building the first ship for the British Navy outside England.
The First of Many
What do India’s first iron plough, diesel engine, lathe machine and electric motor have in common? They were all made by Kirloskar Brothers Limited over its 130-year history.
Royal Enfield's Unintended Domicile
The maker of the famous bike, Bullet, set up shop in Chennai in 1955. Although originated in Worcestershire, the parent company in the UK dissolved its operations, while its Indian operations carried on.
When the Backbay ruled the roost
The Backbay Reclamation Company was in charge of reclaiming the land from the shallow back waters of South Bombay which would later become the iconic Nariman Point. At one point, it had the largest market capitalization in the stock exchange.
When a Lawyer unlocked his potential
Ardeshir Godrej gave up his law practice in 1897 before he decided to try his hand at making locks. He developed his first safe in 1902, and later, soaps from vegetable oil. Today, Godrej is a household name. Many families still consider a Godrej cupboard the right gift for newly weds.
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