Tuesday, 20 December 2011

Jamsetji Nusserwanji Tata

Jamsetji Nusserwanji Tata 3 March 1839 – 19 May 1904) was an Indian entrepreneur and industrialist, prominent for his pioneering work in Indian industry. He was born to a Parsi family in Navsari, Gujarat, India.

He founded what would later become the Tata Group of companies. Jamsetji Tata is regarded as the "father of Indian industry".
Jamsetji Tata was born to Nusserwanji and Jeevanbai Tata on 3 March 1839 in Navsari, a small town in South Gujarat. Nusserwanji Tata was the first businessman in a family of Parsi Zoroastrian priests. He started trading in bombay.

Jamsetji joined his father in Bombay at the age of 14 and enrolled at the Elphinstone College. He was married to Hirabai Daboo while he was still a student. He graduated from college in 1858 and joined his father's trading firm. It was a turbulent time to step into business as the Indian Rebellion of 1857 had just been suppressed by the British government.
Jamsetji worked in his father's company until the age of 29. In 1868, he started a trading company with a seed capital of Rs. 21,000. In 1869, he acquired a bankrupt oil mill in Chinchpokli, converted it into a cotton mill and renamed the mill Alexandra Mill. He sold the mill two years later for a healthy profit. Thereafter he set up a cotton mill in Nagpur in 1874. He christened it Empress Mill on 1 January 1877 when Queen Victoria was proclaimed Empress of India.

He devoted himself to bringing to fruition four of his key ideas: setting up an iron and steel company, a world-class learning institution, a one-of-a-kind hotel and a hydro-electric plant. Only one of the ideas became a reality during his lifetime. The Taj Mahal Hotel was inaugurated on the 3rd of December 1903

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