Jamsetji Tata was the founder of the TATA Group. He was a visionary entrepreneur who laid the foundation of the Tata Group on Indian soil. He is considered to be one of the most important figures in Indian history, and his body of work continues to inspire people all over the world.
Tata Group has evolved from just an iron and steel company to a global education group to the first hydroelectric power plant. He helped India to be in alignment with the global standards of doing business. Today is the occasion of the 129th death anniversary of Jamsetji Tata. So, let us know about the successful businessman and how he set up the steel-to-salt group at Tata.
Jamsetji Nusserwanji Tata was born on 3 March 1839 in Navsari town of Gujarat. He died on 19 May 1904. During his lifespan, he worked really hard for the Tata Group.
Jamsetji was the only son of his parents. His family belonged to the priest’s community and he was the only one to start his career in business. When he was 14 years old, he came to Bombay and enrolled in Elphinstone College.
He earned a liberal education and graduated in 1858 which helped him love academics and develop the habit of reading for his whole life.
He later helped his father in his small business in 1857 and worked there to get good experience for nine years.
At 29 years, Jamsetji decided to open his trading company with a capital amount of Rs 21,000.
He was of the view that Indian companies can also dominate the British textile industry and thus, he opened a cotton mill in 1869.
Jamsetji, however, sold the mill two years later and traveled to England to learn about the Lancashire cotton trade. After understanding the details about the machinery, produce quality, and workforce, Jamsetji decided to bring back his learnings and implement the same in India.
Jamsetji Tata was a great philanthropist. He believed that companies had the responsibility to also give back to society while they earned profits and that’s why he donated to a number of social causes in a generous manner.
In 1901, Tata founded the Indian Institute of Science in Bangalore, also known as Tata Institute, which is one of India’s leading universities.
Although Jamsetji passed away in 1904, his legacy lives on even after 100 years. The Tata Group is now one of India’s largest and most respected conglomerates, and it continues to play a major role in the Indian economy. Tata’s vision of a prosperous and just India is still relevant today, and his work continues to inspire people all over the globe.
“Be sure to lay wide streets planted with shady trees, every other of a quick-growing variety. Be sure that there is plenty of space for lawns and gardens. Reserve large areas for football, hockey, and parks. Earmark areas for Hindu temples, Mohammedan mosques, and Christian churches.” — Jamsetji Tata in a letter to his son Dorab about his vision for the township that would eventually become Jamshedpur.