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This monograph aims to analyze the economic and business history of colonial India from a corporate perspective by clarifying the historical role of institutional developments based on archival evidence of a representative enterprise. The perspective is distinctively unique in that it highlights the salience of corporate-level institutional responses to explain the causes of colonial India’s industrial growth, in addition to two renowned perspectives focusing on government economic policy or factor endowment. One of the driving forces of India’s high growth rate since the 1980s is the expansion of modern business corporations whose origins date back to the colonial era in the mid-nineteenth century. This monograph explores the historical foundation of the growth of such corporations in colonial India, guided by a substantial collection of documents of Tata Iron and Steel Company, whose rich records have not received the due attention they have long deserved. As clarified by numerous economic and business historians of leading industrialized countries since the works of Douglass North and Alfred Chandler, this study as well proposes that the development of modern business corporations in colonial India was broadly supported by the reciprocal evolution of economic institutions and corporate organizations. Adding a new perspective to the business and economic history of colonial India, the analysis also provides an important case study of the development of corporate business in the non-Western world to the study of global business history.
This book investigates the roots of rapid economic growth of India in recent decades, by exploring historical processes from the late colonial period. Based upon decades-long archival and field research, this book deals with the period from the late nineteenth century to 2013 and offers an integral viewpoint of the economic history of India. While critiquing the conventional understanding that links recent economic growth only with the development of high-tech, export-oriented service sectors under the liberalised economy, the book suggests deeper and wider roots of development that had a cumulative effect in three stages. First, the agrarian development and rural socio-economic changes from the end of the nineteenth century. Second, the state-led import-substitution industrialisation since 1950 that established the industrial foundations for future economic growth. Third, the economic reforms since 1991 that helped technology-intensive industries find new markets with improved quality of production. For the first time available in English, this book by the late Professor Haruka Yanagisawa, who was a leading figure in the South Asia studies collective in Japan, is an important contribution to the academic tradition of economic history of India. It will be of interest to researchers in the field of social and economic history, sociology, anthropology and economies of South Asia.
Preface: The present work examines the industrial experience of Bengal during the period 1900 to 1939 with particular emphasis on the role of the government as the main instrument for growth. For this work, available statistical material has been utilized for the sake of precision as well as to strengthen the qualitative evidence. The book contains eight chapters. While Chapter I builds up the case for industrial development, Chapter II examines in detail the industrial policy of the Bengal government in the light of its own limitations as a subordinate authority to the Government of India and that of Whitehall. Chapter III is an investigation of the labour market in Bengal with emphasis on the supply of labour to jute, tea and coal industries in relation to wages and conditions of work. In Chapter IV, I have examined the rates of profitability and security of industrial investments. In this chapter, I have also examined the financial institutions of the time and their role in the industrial development of the province. Chapter V points to some of the difficulties experienced by Indian entrepreneurs, and in the above light looks at their contribution to the larger industrial establishments of Bengal. The next two Chapters VI and VII examine the growth and development of the two biggest manufacturing industries of our period - jute and handloom cotton weaving industries. The concluding chapter is an estimate of the industrial progress made in the province during the period under review. This book is a slightly revised version of my Ph.D. thesis submitted to the University of London in 1978. In the preparation of this thesis, I have accumulated an enormous debt of gratitude to my Supervisor, Dr. K. N. Chaudhuri whose careful vigilance and timely intervention saved me from many factual errors and infelicities of style. My thanks are also due to Mr. I. B. Harrison, who went through some of my preliminary chapters during the absence of Dr Chaudhuri in 1975-76 and made many useful observations. I am also indebted to Dr. Sirajul Islam of Dhaka University for helping me with some necessary corrections. Here I take this opportunity also to express my deep gratitude to the UK Commonwealth Commission which offered me a scholarship for three years which enabled me to undertake this research work. Needless to say, without their financial help it would have been virtually impossible to pursue this course of studies. I also wish to thank the University of Dhaka for granting me the necessary study leave. There remains also a special group of people - without whose co-operation, patience and tolerance, this work would not have seen the light of day. In this group belong the library staff of the British Library (including the Newspaper Section at Colindale), Senate House Library, the library of the School of Oriental and African Studies, and particularly, the India Office Library and Records (including their Newspaper Section at the Bush House). I take this opportunity to thank Mr. J. Sims of the India Office Library and Records for being so helpful in tracking down apparently untraceable official documents. I wish to thank the staff of the Bangladesh Secretariat Record Room and of the Secretariat Library, Dhaka for extending me all possible facilities in carrying out my research work. Finally, I owe a special debt of gratitude to my wife, Lilly whose support and constant encouragement over these years was invaluable in completing this work. - A. Z. M. Iftikhar-ul-Awwal