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The Creation of Wealth Book Talk

The Creation of Wealth Book Talk. By DR T.H. CHOWDARY Director: Center for Telecom Management and Studies Fellow: Tata Consultancy Services Chairman: Pragna Bharati (intellect India ) Former: Chairman & Managing Director Videsh Sanchar Nigam Limited & Information Technology Advisor,

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The Creation of Wealth Book Talk

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  1. The Creation of Wealth Book Talk By DR T.H. CHOWDARY Director: Center for Telecom Management and Studies Fellow: Tata Consultancy Services Chairman: PragnaBharati (intellect India ) Former: Chairman & Managing Director Videsh Sanchar Nigam Limited & Information Technology Advisor, Government of Andhra Pradesh T: +91(40) 6667-1191(O) 2784-3121® F: +91 (40) 6667-1111 hanuman.chowdary@tcs.com Talk @ TCS, KLK : 27thJuly 2012

  2. The Creation of Wealth The Tatas from the 19th to the 21st CenturyForeword by JRD TataEpilogue by Ratan N Tataby R.M.Lala(New Edition)Pages: 305Portfolio/Penguin: Rs. 399 S_July2012

  3. Wealth • Wealth must be created beforeWelfare can be provided • Natural Resources • Human Endeavor & Enterprise. • Vision & Patriotism S_July2012

  4. The House of Tatas • Parsis – True Indians. Exemplars of national integration • Four Great Tatas • JamshetjiNasserwanji • Dorabji Tata • JRD Tata • Ratan Tata • (Mistry) S_July2012

  5. DadabhaiNaoroji • The first Indian MP in the British House of Commons (Parliament) “India plundered “The un-British rule in India • Jamshetji Era • Cotton & Textiles • Empress, Swadeshi… In Nagpur-cotton land S_July2012

  6. Parsis: Great Indians (1) • Members of Britain’s Parliament • DadabhaiNaoroji • ShaporjiSaklatwala • Legal Luminaries • NaniPalkhivala • Soli Sorabji • FaliNariman • S.H.Kapadia (C.J. of Supreme Court now) S_July2012

  7. Parsis: Great Indians (2) • First Field Marshal Sam Manekshah • Political • MinooMasani (Socialist & Swatantra) Chief of AirstaffApsi Engineer • Feroze Gandhi • KobadGhandy (Maoist) • Scientists: • HomiBhabha • H.D Sethna S_July2012

  8. Tata Steel- TISCO • Founded in 1907 • Sakchi village becomes Jameshedpur • 1st steel rolled out in 1912 • 1882 - A German report (that iron ore deposits exist in CP…) • Jamshetji – why export ore & import steel • Went to US in 1900 to get a consultant (Vivekananda on this ship) • Cost Rs. 2.32 cri/c township, to produce 100,000 tons/y • 11% Tatas; Rest public shares • 1980 modernisation & capacity to 2.1 mln tons cost Rs. 1000 cr • 1990+ 6,00,000 tons @Rs. 1500cr S_July2012

  9. Tata Hydro (1) • “Genius is one per cent inspiration and ninety nine percent perspiration • “We will produce electricity so cheap that only the rich can afford to burn candles- Thomas Alva Edison • “When Sir M.Visveswaraiah saw the Cauvery water falls at Jog ( 1920s) he exclaimed “what a waste?” • When Jamshetji Tata saw the waters of Roha river Roha cascading down he wondered , “All this water from the Western Ghats is wanted. We should harness it to produce hydro electric power”. • ConstructdWalhan dam near Lonavala • Tata Hydro-electric Power Supply CO established in 1910 • The Andhra Vallely Power Supply CO in 1916 • Tata Power Co in 1919 • BY’s Textile Mills canvassed to change over form steam machines to electric motors & power Tatas purchased steam engines & scrapped them S_July2012

  10. Tata Hydro (2) • First 500 MW generators in 1970 when the largest in India was 210 MW • Tallest chimneys -152m ( twice the highest of Qutub Minor in 1970) -275 m in 1990 in Trombay S_July2012

  11. TOMCO • Copra from Kerala exported to the USA & Veg oil imported • Dorabji Tata on ship from USA to Japan met a “ Consulting Engineer” Vegitable Oil companies” – USA colonised Philippines planted coconut trees took copra… • TOMCO founded in 1917 in Cochin – processed copra • Cocogem (hair and cooking oil), Soap…(Soap first made in India in Meerut 1979) competes with Hindustan Lever, Hamam, 501 • 1st dividend in 1949-22 years after established . • Cosmetics – Lakme imports of foreign cosmetics banned- women waylaid Nehru-India)Nehru’s hostess intervenes) Tatas called to make cosmetics… S_July2012

  12. The TajMahal Hotel • Jamshetji refused admission to a hotel – Whites only! • 1903 Taj built & opened with 17 guest • Gateway of India in front came later to welcome King George V • Built “to attract people to India”! • Old palaces of Maharajas taken over – refurbished to Taj elegance and fame. • Owners: Dorabji Tata Trust; Sir Ratan Tata Trust & Lady Tata Memorial Trust ! • Taj’s in USA, UK,Gulf… S_July2012

  13. Telco • Why stop at making steel and rails? • Tata Engineering & Locomotive company – 1945 • Jamshedpur • 100 locomotives ( steam) a year, 98% indigenous components • Retired in 1960 after producing in 15 yrs • 1155 steam Locos • 5,000 Railway wagon • 950 Road Rollers • Daimler Benz (FRG) collaboration to produce heavy trucks S_July2012

  14. Jamshedpur • Free electricity & Medical • Pensions • Insurance • School • Telephone service (till early 1960s) S_July2012

  15. What Tata Trusts do • Dorabji Tata Trust founded • Tata Memorial Hospital • TIFR • Tata Institute of Social Sciences • Jamshetji gave his personal fortune to found the IISC in Bangaluru • His bust is there . He was inspired by Swami Vivekananda • Tata Admin Services • Tata Economic Services (Dr. D.R.Pendse- C.T.M.S) • Ratan Tata Foundation: • Sir Ratan Tata Foundation at the London School of Economics & Political Science • Sir Ratan Tata Industrial Institute • Other Trusts look after old & indigent Parsis - Hospice ( for the dying-Pain relieved) S_July2012

  16. Abraham Lincoln “You cannot bring about prosperity by discouraging thrift. You cannot strengthen the weak by weakening the strong. You cannot help the poor by destroying the rich. You cannot establish sound security on borrowed money. You cannot keep out trouble by spending more than you earn. You cannot build character and courage by taking away man’s initiative and independence. You cannot help men permanently by doing for them What they could do for themselves.” (Source: Freedom First, May 1989) S_July2012

  17. Dhanyawad:Thank You S_July2012

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