Jamsetji Tata Biography
Jamsetji Tata Factsheet
|Born on||3rd March 1939|
|Place of Birth||Navsari, Gujarat. India|
|Educated from||Elphinestone College, Mumbai|
|Position||Founder of Tata Group|
|Married to||Hirabai daboo|
|Children||Dorabji Tata and Ratanji Tata|
About Jamsetji TataJamsetji Tata the “Father of Indian Industry” was a man of sharp business acumen and charisma. Jamsetji Tata was the founder of
Jamsetji Tata Personal backgroundJamsetji Tata was born on 3rd March 1839 at Navsari, Gujarat, India to Nusserwanji Tata and Jeevanbai Tata. At the age of 14 he enrolled at the Elphinestone College, Mumbai and completed his eductaion as 'Green Scholar'. While still a student Jamsetji Tata at the tender age of 16 married Hirabai Daboo who was 10 at that time. The couple have two children, Dorabji Tata and Ratanji Tata, who succeeded Jamsetji as the chairman of the Tata Group.
Beginning of Jamsetji Tata's Career
- Though he started working with his father at an early age of 14 but his real contribution came only after he had graduated in the year 1858. He involved himself whole heartedly and with full zeal in his father's export business at a time when business scenario in India was far from being prosperous, mainly because of the Sepoy Mutiny of 1857, which had been suppressed by British Raj and had taken India by storm.
- Then in 1859 Jamsetji Tata went to Hong Kong to expand his father's business. He remained in Hong Kong for four years to fulfill his father's dream of setting up the branch of the Tata & Company office there. The establishment of Tata & co. office there was the first milestone achieved in attaining the vision of the expansion of the Tata Empire throughout Asia and the first step towards the creation of Tata & Sons.
- By the year 1863, there were Tata offices not only in Hong Kong, but also in Japan and China. Jamsetji Tata after the success of his endeavors in Asia traveled to Europe, but unlike in Asia, he faced with hitches in the initial stages. Jamsetji Tata's motive behind his tour to England was not just to widen his father's export business's reach but also to set up an Indian Bank in London.
- However the establishment of the Indian Bank proved to be disastrous for Tata's, because it was not the apt time for the banking sector with a financial crisis hitting the markets in several parts of India. Tata Company had to encounter huge monetary losses because of the failure of the Indian Bank.
Jamsetji Tata's CareerJamsetji Tata worked with his father until the age of 29, after which he started a trading company of his own. This was in the year 1868, following which Jamsetji Tata steadily established several cotton mills of his own. The Empress Mill set up in Nagpur brought huge profits to Jamsetji. The mills made Jamsetji earned huge amounts of revenue, but were thereafter sold by him for higher amounts.
Jamsetji Tata's cotton mills produced cloth which were used in India and also exported to countries of Japan, Korea, China and several parts of the Middle East. The mills were largely established to conform to Jamsetji Tata's business acumen, but the Dharamsi Cotton Mill which was later renamed as Swadeshi Cotton Mill kept the nationalistic view in mind and made use of only Indian products, thus promoting the non-use of British raw materials.
Jamsetji Tata always gave high importance to the welfare of the employees in Tata & Sons. As is the scenario now in the Tata companies wherein staff interest and working environment is given vital importance, so was the case even at that time.
Policies which were never heard during those times, like medical facilities for the sick and for women with children, provision of pensions, accident compensations and on the job training, were a part of the companies owned by Jamsetji Tata.
Jamsetji Tata's VisionHe devoted himself in the attainment of the four of his key ideas:
- Setting up an iron and steel company
- A world-class learning institution
- A one-of-a-kind hotel
- A hydro-electric plant.
However the foundations laid by him and the hard work of his descendants made each of his key ideas turn into a reality:
- Tata Steel is Asia's first and India's largest and the world's fifth largest steel company.
- The Indian Institute of Science.
- The Tata Institute of Fundamental Research was founded by Dr. Homi Bhabha approached JRD Tata requesting for his support towards the setting up of this research institution. It was than set up in the year 1945.
- The Tata Power Company Ltd is India's largest private sector electricity generating company.
Jamsetji Tata's DeathJamsetji Tata passed away on May 19, 1904. But till date he is a source of motivation and inspiration for the entrepreneurs all over the world.
Jamsetji Tata's Business Venture- Tata GroupAfter Jamsetji's death the Tata Group was succeeded by his two sons, Dorabji Tata and Ratanji Tata.The Tata Company is one of the largest and most prominent companies of the world. All the foundations laid by him were reinforced by his descendants and all his key ideas were turned into a reality with time. His contributions were such that the city of Jamshedpur in Jharakhand is today popularly known as Tatanagar, because of the many facilities the city was endued with.
Last Updated on June 5, 2015