Advertisement
Saturday, Dec 04, 2021
Outlook.com
I-Day Special

Dynasty, Remastered: Indian Business Continues To Be Family-Dominated

We have come a long way from the ‘licence raj’ that followed freedom from the Raj, but family-owned ­businesses still dominate the scene, with fresh ­entrepreneurship mostly confined to services

Dynasty, Remastered: Indian Business Continues To Be Family-Dominated
Dynasty, Remastered: Indian Business Continues To Be Family-Dominated
outlookindia.com
2021-08-14T08:26:53+05:30

The iconic 40-seater Lockheed Martin Constellation took off from the Mumbai (then Bombay) airport for London, on the warm summer afternoon of June 8, 1948—just 10 months after India’s independence—carrying 35 people, including ‘maharajas’, ‘nawabs’ and J.R.D. Tata. It was India’s maiden international flight, and for JRD it was a moment of pride (Air India was owned by the Tata Group). He went on to build the country’s largest salt-to-steel conglomerate, touching almost every household in the second most populous country.

When he took over as the chairman of Tata Sons (holding company) at the age of 34, there were 14 companies under the umbrella, with $100 million in assets. Half-a-century later, when he passed on the baton to Ratan Tata, the group had a web of 95 companies with $5 billion in assets—and had ventured into businesses like software (TCS), healthcare (Tata Memorial Centre of Cancer Research and Treatment) and education (TISS).

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Shaheen Bagh, CAA, Farmers’ Protest: Hip-Hop Is The Voice Of Dissent In India

Shaheen Bagh, CAA, Farmers’ Protest: Hip-Hop Is The Voice Of Dissent In India

Young, brash and little-known artistes are using hip-hop as an outlet to speak up and speak out.

World Disability Day: Visually Impaired Girls In Himachal Use Education To Dispel Darkness

World Disability Day: Visually Impaired Girls In Himachal Use Education To Dispel Darkness

Umang Foundation in Himachal Pradesh has helped many blind and visually impaired persons achieve their dreams by giving them access to higher education.

Mayank Notches Maiden 100 Vs NZ – Statistical Highlights

Mayank Notches Maiden 100 Vs NZ – Statistical Highlights

Mayank Agarwal's ton against New Zealand on Friday was his first since his 243 vs Bangladesh in 2019 at Indore.

Kashmir: Ghulam Nabi Azad Emerges As Key Player In J&K With Or Without Congress

Kashmir: Ghulam Nabi Azad Emerges As Key Player In J&K With Or Without Congress

Crowds at Congress leader Ghulam Nabi Azad's recent rallies show that he will be a key player in elections in Jammu and Kashmir, when they happen.

Advertisement