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Commemorating the 175th Birth Anniversary of Jamshetji Nusserwanji Tata
(03.03.1839 – 19.05.1904) with the issue of Commemorative coins in the
denominations of Rs.100/- and Rs.5/- by the Kolkata Mint in Proof, Uncirculated
and Circulation coins categories:
About
Jamshetji Nusserwanji Tata:
Jamshetji was born on 03.03.1839,
at Navsari, Gujarat into a Parsi Zoroastrian family when Navsari was a part of
the princely state of Baroda. He was an Indian pioneering industrialist, who is
remembered today as the Founder of the Tata Group.
Jamshetji’s father
Nusserwanji was an ambitious businessman who shortly thereafter relocated to
Bombay (present day Mumbai) where he commenced his own business in commodities.
He engaged a private tutor
to teach Jamshetji in Bombay and in 1853, Jamshetji was admitted to the
Elphinstone Institute, in Bombay where his Tuition fee was waived as he was an
excellent student with good prospects.
In 1858, he passed out from Elphinstone
Institute as a “green scholar” (which was the equivalent of present day
graduation).
Thereafter, Jamshetji
joined his father’s export trading firm Nusserwanji & Kaliandas, where he
gained valuable experience in commodities and he helped set up its branches in
China, Europe, Japan and the USA.
His
knowledge expansion came through his successive trips abroad primarily to
America, England and continental Europe etc. which convinced him that there was
tremendous scope for Indian companies to forge through and make a foray in
British dominated industries.
In December 1859,
Jamshetji opened a new branch called Jamshetji & Ardeshir in Hongkong,
trading in commodities like opium, cotton, tea, silk, camphor and Cinnamon and
base and precious metals like copper, brass and gold etc. from China and the Orient. When civil war in
the USA broke out their textile mills were starved of cotton and Jamshetji
seized upon an opportunity to ship cotton to the USA at huge profits. Nevertheless, this business opportunity soon
dried up and his family had to sell their properties to pay off creditors.
Nusserwanji’s credibility
in the market as an honest businessman who paid all his debts in time, again
got his business running and making good profits when he sold large quantities
of supplies to a British Army Regiment
headed to Abyssinia to attack King Theodore who had raised a banner of
revolt against the British.
In
1868, Jamshetji started a trading company that later grew into the
several subsidiaries of the Tata Group. Thus he founded the Tata group in this
year.
In 1869, Jamshetji
planned a new venture of setting up a cotton mill, when he purchased a disused
oil mill at Chinchpokli in Bombay (present day Mumbai). He called this mill Alexandra
Mill which immediately started earning huge profits. He wanted to set up a
new mill with the most modern machinery and for this purpose he sold the
Alexandra Mill two years later for a profit and went to England to plan out
future business expansion plans based on modern technology, particularly to
study the Lancashire cotton industry, who were the World’s best processors of
cotton. Jamshetji had a vision to best
the Lancashire cotton industry and make a name for Indian cotton products
world-wide.
On 26.04.1873, he
sailed to England passing through Egypt, Syria, Palestine, Turkey and Russia,
studying and assessing business opportunities along the way.
In 1874, upon his
return to Mumbai he decided to set up his new cotton mill at Nagpur. Short of funds, he approached a local money
lender to help him out financially and upon his refusal to finance a green
venture, he went about setting up his mill alone. It is said that when
Jamshetji’s Mill started earning huge profits, the local moneylender rued his
decision.
On 01.01.1877, the
Nagpur Mill commenced business. It was the day when Queen Victoria was declared
the Empress of India. To mark this occasion, Jamshetji named his Mill the “Empress
Mill”.
Meanwhile, Dadabhai Naoroji was spearheading the
Swadeshi Movement, stressing that British Rule was creating poverty in India
and that their trade rules were unfavourable to Indian businesses. Jamshetji too was inspired by Dadabhai
Naoroji’s Swadeshi call and pledged to have Swadeshi Industries camparable to
the best in the World.
He purchased another sick
mill called “Dharamshree Mill” in the Kurla area of Mumbai and named it “Swadeshi Mill” which initially
did not do well because of outdated machinery but later broke even , turned
around and started reaping handsome profits after the installation of modern
machineries.
Jamshetji
set high standards for his procurement and processing procedures and his
business establishments were noted for their efficiency, improved labour
protection policies and using the finest grades of fibre as raw materials.
In 1887, Jamshetji
formed Tata & Sons with his sons Dorabji and Ratanji offered a partnership
to his cousin Ratan Dadabhai Tata who was a financial wizard.
Unsuccessful
foray into a Shipping Line:
The
improved quality and economical pricing of the products of Swadeshi Mill gave
stiff competition to the Lancashire cotton industry and the British created
several hurdles for Jamshetji.
P & O Shipping, a
British Company, started charging higher
freight rates from him than the British, to discourage Jamshetji from competing
across the globe with the Lancashire cotton industry. This was highly
ridiculous, as P & O shipping was subsidised by the Indian tax-payers. When Jamshetji tried to bypass P & O
shipping by using Italian and Austrian shipping lines, the three European
companies combined together to ensure that Jamshetji’s products would not ship
out of India without charging him exhorbitant rates.
At this point, Jamshetji
decided to foray into his own shipping line in collaboration with Nippon Yusen
Kaisha Line which was called “Tata Line”. Tata Line offered much concessional
freight rates, but the P & O combine undercut his rates to almost throwaway
prices, just to run Tata Line out if business. Jamshetji had no alternative but to close down his shipping line – the
first and only time that he conceded to British machinations!!
In 1892, Jamshetji,
himself a noted philanthropist established the J.N. Tata Endowment which
encouraged Indian students to pursue higher education and building up an
intellectual capital in the country. The
Tata family became one of the most important private funders of technical
education and scientific research in India. The endowment has funded thousands of Indian
scholars, including such names as K.R. Narayanan and Raja Ramanna.
In 1893, Jamshetji Tata and Swami Vivekananda
travelled aboard a ship to Canada – one was an industrialist and the other an
ascetic – but they both shared a common vision – that of a self-reliant India
and both worked towards that goal. A mutual admiration developed between them
following their chance meeting.
Thereafter,
Jamshetji began to concentrate on his four
dream projects – Steel,
Institute of Science, Power and a Grand Hotel in Bombay. Jamshetji’s futuristic
vision was to build an India that would be an industrial power in its own right
with its own steel plants, power plants and World Class universities.
The
Tata Steel story:
In 1899, after
years of exploration, good quality coal was found in Jharia and the time was
ripe to set up his steel industry. Jamshetji visited USA to acquire in-depth
knowledge of the steel industry.
When
his first steel plant was taking shape, there was wide spread scepticism,
particularly among the British bordering on derision, as to how would he raise
the 20 million pounds sterling to set up his project. Nevertheless, investors
queued up to put money in the public issue of Tata Steel. Such was the
confidence in Jamshetji that people brought chairs, umbrellas, bedding and
tiffin boxes to prepare for the long wait.
Like the Swadeshi Mill,
Tata Steel was too purely a “Swadeshi”
venture – by an Indian, of the Indians and for the Indians.
In 1901, he began
organising India’s first large-scale iron and steel works which in 1907 were
incorporated as the Tata Iron and Steel Company (present day Tata Steel) .
The
Steel plant came up after Jamshetji passed away and became a stupendous
success. The first Tata Steel ingot rolled out in 1912.
Despite this superlative
success, the English were determined not to let his venture succeed and offer
competition to British Steel.
When Tata Steel approached
Sir Frederick Upcott, Chairman of the Indian Railways, Frederick is known to
have said “Do you say that Tatas propose to make steel rails to British
specifications? Why, I will undertake to eat every pound of steel rail they
succeed in making”.
Yet Tata Steel produced
excellent steel for the railways within a few years and the company stands
among the very best even today. Indeed,
Upcott did not stand true to his word, otherwise, he and his future generations
would have had their work cut out “eating Tata produced steel” at every meal.
Quipped Sir Dorabji Tata “If Sir Frederick Upcott were to keep his word, he
surely would have some slight indigestion”.
On 02.01.1919, when
Viceroy Chelmsford came to visit the Tata steel plant, he said to Dorabji “Mr.
Tata, I sincerely admire your father’s enterprise. In his honour Sakchi will
henceforth be known as Jamshedpur”. (The Tata Iron and Steel Plant was set up
at Sakchi village in the present day Indian state of Jharkhand. The village has
now grown into a town area within the modern city of Jamshedpur, named in his
honour). A little later the Bihar government renamed Kalimati Railway station (near the Tata
Steel plant) as Tatanagar Railway station.
Setting
up the Institute of Science, Bangalore (Bengaluru):
Jamshetji was aware that
industrial development cannot be managed without the support of modern
scientific education.
In 1892, he founded the
J.N. Tata Endowment Fund for students.
Nevertheless, he dreamt of
setting up a university of advanced studies. He found the Viceroy Curzon’s
response to his proposals very lackadaisical but despite Curzon’s negative
attitude, he invited Nobel laureate Dr. William Ramsay to suggest locations for
setting up a university at Bangalore. When Curzon obstinately refused to help
him out with his University project, Jamshetji did an unthinkable act – he
adopted the University as his “third son” after Dorabji and Ratanji and
suitably amended his will to provide sufficient property or funds out of his
estate after he passed away.
Jamshetji
realised that there was an urgent need for business leaders to work in
“partnership” with the spiritual leaders of society to build a modern India.
The businessmen had wealth and ideas while the spiritual leaders had the pulse
of the countrymen.
Jamshetji needed help to set up a world-class
Indian university in the face of still opposition from the British Viceroy
Curzon, and he left no stone unturned to accomplish his vision. He spelt out
his difficulties in establishing the University to Swami Vivekananda,
requesting him to lead a crusade supporting this venture.
Swami Vivekananda wrote an editorial in his
Magazine “Prabudh Bharat” “The making
of a prosperous Nation depends on the qualities of the head and heart like those
possessed by Mr. Tata. A few more Tatas could change the face of India. Let the
whole nation therefore, forgetful of class or sect interests, join in making it
a success”.
He kept up the pressure
through higher officials in London on Curzon until he finally agreed that the
Tatas could set up their University of Advanced Research at Bangalore. The Indian Institute of Science a globally
recognised institution came up in Bangalore in 1909, five years after
Jamshetji’s passing away.
The
tables were turned on Curzon, so much so, that when Jamshetji passed away, Curzon
conceded that "No Indian of the present
generation had done more for the commerce and industry in India”.
The outreach of the
University was unparalleled and helped set up several other institutions of
repute – the Central Food Technological Research Institute, Mysore, the Indian
Lac Research Institute, Ranchi and Bhabha Atomic Research Centre, Mumbai.
Foray
into Hydro-electric power:
In 1900, Jamshetji
envisioned the Bombay-area hydroelectric power plants (which later transformed
into the Tata Power Company by 1906).
He explored setting up a
hydropower plant, first at Jabalpur, then at Goa and lastly at Mumbai all of
which projects could not get off the drawing board. Subsequently, he met Mr.
Ghostling, an architect from Mumbai who suggested setting up the power plant at
Lonavla-Khandala some 50 miles from Mumbai. His plan was to construct a lake
and create an artificial waterfall which will provide electricity to Mumbai.
Such a project had never been attempted before. The best material was procured
from all over the globe – pipelines from Germany, waterwheels for generators
from Switzerland, Generators from the USA and cables from England.
In
February 1911, a few years after Jamshetji passed away, the foundation
of the Walwhan dam at Lonavla was laid and in 1915, the project went live
providing electricity to Bombay (present day Mumbai).
The Tata Hydroelectric Power Supply Company (later Tata Power Company) is currently
India’s largest private electricity company with an installed capacity of over
8000 Mega-Watts providing Hydro-electric power(a Renewable Natural Resource).
We
stayed in Mumbai from 1999 to 2005 and were provided electricity by Tata Power.
It was extremely low-cost and the power never went off even once, except for
one occasion when there was a heavy storm in Mumbai and the Power failed for
about two hours. The Tata electric Engineers got the power running in the
shortest possible time. Such was Jamshetji’s enduring contribution to Mumbai through his vision of providing
hydro-electric power to the Metropolis. Also, the Walwhan dam project was a
must see for all tourists coming to Lonavla, what with its artificial
waterfalls, landscaped gardens and birding spots. After the dastardly terrorist attacks on the
Taj Hotel Mumbai, on 26/11, we were disappointed to find on a later trip to
Lonavla that the Walwhan dam Project had been closed to public viewing but I
guess, it is better this way, rather than expose Jamshetji’s legacy to risk.
Setting
up of the Taj Hotel in Mumbai:
Much like Mahatma Gandhi,
who was “thrown off” a First Class coach while travelling by train in South
Africa because it was meant for “Europeans only”, Jamshetji was subjected to an
equally unsavoury incident when he was turned away from a hotel that displayed
a sign board “Entry for Europeans Only”. He decided to set up the best hotel in
the country in Mumbai.
On 01.11.1898,
Jamshetji purchased two and a half acres of land opposite the Apollo Bunder in
Mumbai. He spared no expense to make the Taj a fabulous hotel. He personally
went to Dusseldorf to order electrical machinery, chandeliers from Berlin and
cast iron pillars from a Paris Exhibition.
On
03.12.1903, the opening ceremony of the Taj Hotel was performed. Only
the Taj Mahal Hotel (built at a cost of Rs.42 million) became a reality during
Jamshetji’s lifetime. At that time, it was the only hotel in India to have
electricity.
Even today, the Taj, Mumbai
has remained one of the finest World-Class hotels in India and several hotels
countrywide have been spun off as a part of its hotel chain.
His
passing away:
In the same year (1900) he
became seriously ill while on a business trip to Germany. On his doctor’s
advice that perhaps the equitable climate of Europe may help him recover, he
went to Europe for recuperation. The European climate did not help. Years of
hectic schedules, travels across the world and a rich spicy diet took its toll
on his health.
He passed away on 19.05.1904
at Bad Nauheim, Germany and was interred at the Parsi Burial ground in
Brookwood Cemetery, Woking, England.
His
Legacy:
Jamshetji is considered to
be the “Father of Indian Industry”.
His contribution to Indian
Industry is all the more significant, because he set up his integrated businesses/conglomerate
against stiff opposition from the British Raj Authorities/European businesses
who went all-out to ensure that every possible hurdle was placed in his path. Nevertheless, the Tata Group Companies stand
testimony to his vision to develop India through World-Class industrialisation,
trained and committed man-power, far-sighted strategies etc. which have
constantly ensured that the Tata Group is second to none on the planet, least
of all the British.
All his life he believed
in the motto – Humata, Hukhta, Hvarshta
– meaning “Good Thoughts, Good Words, Good Deeds”.
It
is said that Jamshetji Nusserwanji Tata turned mud into gold. Perhaps, it was simply
skilful management, clear thinking and honesty that worked miracles for him. He
had an uncanny knack for recognising a good business opportunity and a selfless
will to improve the lot of his countrymen.
As a result of his
conviction that business is sustainable only when it serves a larger societal
purpose, the Tata group introduced benefits, several of these much before they
became laws, like Pension and Gratuity (1877), Worker’s Provident Fund scheme
(1901), eight-hour working day (1912), free medical aid (1915), schooling
facility for children (1917) and maternity benefits (1921).
He
was a man with a vision so clear that he could see “a tomorrow that was beyond
his own life”. He dreamt such giant dreams of such stupendous proportions, that
they could only be realised after he was no more.
He
was aware of this and planned for it by preparing a competent team that was
committed to his dream and inspired it with a kindred spirit. A man who thought
big but also cared for the small. A man who provided generous scholarships to
nurture the talent of tomorrow and made an endowment in his will for building
India’s first institute of advanced scientific education – the Indian Institute
of Science, Bangalore.
With the establishment of
his steel plant, he made a quantum shift in the nature of his business. From a country of traders, India stepped
into a world of industrialisation.
Jamshetji Tata was a Nationalist who worked
for the progress of India without seeking or holding any position of power. His
vision of environment-friendly energy and his initiatives for the welfare of
the people associated with the Tata group are exemplary. His strategy included
– industrializing the country and to build up an efficient human capital – and
to conduct businesses in a manner that it positively impacted the quality of
lives of the people who came in contact with them. For him, the society at
large was not just another stakeholder in business, but the very purpose of its
existence.
“Amar
Chitra Katha” (Immortal Illustrated Stories), the
publishing house which brings out Classics Illustrated comics/books on Indian
mythology, legends, historical personalities etc. have brought out an
illustrated volume titled “Jamshetji Tata – Amar
Chitra Katha (Vol.737)” and another one titled "Architects of Modern India (Vol.10037)" in which he has been included as one of three top Industrialists who set India on a course with modernisation and prosperity.
His sons Sir Dorabji
Jamshetji Tata and Sir Ratanji Tata pursued their father’s vision further and the
Tata Iron and Steel Company became the largest privately owned steelmaker in
India and the flagship of a group of companies producing textiles, steel,
hydro-electric power, chemicals, agricultural equipment, trucks, automobiles,
locomotives, consultancy, cement, hospitality (Taj Mahal Hotel – later, the Taj
Group of Hotels) etc.
Thus,
a little known Zoroastrian family became the foremost business house in India’s
Industrial history.
Inspirational
quotes that were the guiding philosophy of his life and approach to business:
Several inspiring quotes
have been attributed to Jamshetji Nusserwanji Tata, but I will mention the
undernoted ones which perhaps were the cornerstone of his vision and his life’s
mission:
“Freedom without the
strength to support it and, if need be, defend it, would be a cruel delusion.
And the strength to defend freedom can itself only come from widespread
industrialisation and the infusion of modern science and technology into the
country’s economic life.”
“In a free enterprise, the
community is not just another stakeholder in the business but in fact the very
existence of it”.
“There is one kind of
charity common enough among us – it is that patchwork philanthropy which
clothes the ragged, feeds the poor and heals the sick. I am far from decrying
the noble spirit which seeks to help a poor or suffering fellow being. What
advances a nation or a community is not so much to prop up its weakest and most
helpless members, but to lift up the best and the most gifted, so as to make
them of the greatest service to the country”
“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”.
Commemorative
Coins:
To mark the 175th
Birth Anniversary of the pioneer of Indian industrialisation and the Founder of
the Tata Group, Jamshetji Nusserwanji Tata, limited edition Commemorative coins
in the denominations of Rs.100/- and Rs.5/- have been issued by the Government
of India/India Government Mint Kolkata in both Proof and Uncirculated varieties
for Numismatists/Collectors and another coin in the denomination of Rs.5/- is
being issued for general circulation depicting Jamshetji Tata on the Reverse.
Previously, commemorative
coins have been issued to commemorate the 1857 First war of Indian Independence,
milestones in Organisational history, Freedom fighters, Scientists etc. but
this is the first time that a commemorative coin has been issued in honour of
an industrialist and such an eminent one at that.
The purpose seems to be to
highlight the role played by Indian Industries and business visionaries in
making Indian businesses more progressive and contribute to the Nation’s
development and prosperity, in keeping with the present Government’s “Make in
India” campaign. This Commemorative coin stresses on what doyens of Indian
industry can achieve, if they are driven by a patriotic zeal.
The Obverse of the Rs.100/- and Rs.5/- coins depicts the Lion
Capitol emblem of the Government of India with the motto (“Satyameva Jayate” - meaning “Truth Always Prevails) inscribed below
it. On the left periphery of both denominations of coins is mentioned the name
of the country “Bharat” (in Hindi/Devnagri script), while on the right
periphery is mentioned the name of the issuing country “India” (in English).
Below the Lion Capitol is given the Rupee symbol followed by the denominations
of the coins in numerals “100” and “5” respectively.
The
Reverse of the Rs.100/- and Rs.5/- coins depicts a bust/portrait
of Jamshetji Nusserwanji Tata in the centre. On the upper periphery is the inscription “175van Janamdivas-Jamshetji Nusserwanji Tata” (in Hindi) and on the
lower periphery is mentioned “175th Birth Anniversary-Jamshetji
Nusserwanji Tata” on both denominations of the coins. Below the portrait and
above the lower peripheral inscription are mentioned the commemoration years –
“1839-2014”.
The specifications of the
coins are:
Denomination:
Rs.100/- :
Diameter: 44 mm; Shape Circular; Weight: 35
gms; Metal Composition: Quaternary Alloy (QA): Silver: 50%, Copper: 40%; Nickel
5%; Zinc: 5%. No. of Serrations on the Edge: 200.
Denomination:
Rs. 5/- :
Diameter: 27 mm; Shape:
Circular; Weight: 6 gms; Metal Composition: Nickel Brass: Copper: 75%; Zinc: 20
%; Nickel: 5 %. Edge: Smooth.
The Tata Group Executives
and Employees have been offered a concessional rate for Proof Coins/Coin sets
with the theme “175th Birth anniversary of Jamshetji Nusserwanji
Tata” being issued in the following categories:
Commemorative coin of
Rs.100/- (with wooden box) – Rs.4243/-
Commemorative Coin Rs.5/-
(with wooden box) - Rs.2858/-
Commemorative coin
Rs.100/- (without packing) -
Rs.2568/-
Commemorative Coin Rs.5/-
(without packing) - Rs.1183/-
Commemorative Coin combo
Rs.100/- & Rs.5/-
(Combo with wooden
box)
- Rs.4500/-
(Combo without packing) - Rs.3704/-
(Let us see what the
pricing of the coins is placed at for general public Numismatists/Collectors
when the Coin Bookings commence at Kolkata Mint).
Previously, postage stamps by India-Post
have been issued in 1958 and 1965 on Jamshetji. The 1958 stamps in Jamshetji’s
name were released to commemorate 50 years of Steel Industry in India while the
1965 stamps were issued in recognition of Jamshetji’s contribution the
industrialisation of the country.
Posted on 16.08.2015:
My friend Rajiv Agarwal has yesterday got me a Commemorative Coin Combo of Rs.100/- and Rs.5/- which has been received by Tata Group Executives from the Kolkata Mint on Jamshetji Tata. Scans of these coins are placed below for reference:
The Reverse of the two coin Proof-set of Rs.100/- and Rs.5/-
The Obverse of the two coin Proof-set of Rs.100/- and Rs.5/-
Posted on 31.07.2019:
I went to the nearby mall today, where I picked up this circulation Coin issued on Jamshetji Tata, from the payment counter in the outlet where I bought my provisions:
The Reverse of the Rs.5/- Circulation Coin shows the image of Jamshetji Tata in the centre. The coin design and inscriptions are identical to the Nickel Brass Coin described above.
The Obverse of the Rs.5/- Circulation Coin shows the Emblem of the Government of India in the Centre, with the other design features being identical to the Obverse design of the RS.5/- coin shown above.
The specifications of this circulation coin are:
Denomination: Rs.5/-; Shape: Circular: Weight: 6.0 grams; Metal Composition: Nickel Brass - Copper 75%, Zinc 20%, Nickel 5%; Edge: Smooth.
Posted on 16.08.2015:
My friend Rajiv Agarwal has yesterday got me a Commemorative Coin Combo of Rs.100/- and Rs.5/- which has been received by Tata Group Executives from the Kolkata Mint on Jamshetji Tata. Scans of these coins are placed below for reference:
Posted on 31.07.2019:
I went to the nearby mall today, where I picked up this circulation Coin issued on Jamshetji Tata, from the payment counter in the outlet where I bought my provisions:
The specifications of this circulation coin are:
Denomination: Rs.5/-; Shape: Circular: Weight: 6.0 grams; Metal Composition: Nickel Brass - Copper 75%, Zinc 20%, Nickel 5%; Edge: Smooth.
