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Objectives of the Presentation 1. To know when and from where the entrepreneurial class emerged in India. 2. The history b...
Emergence of Entrepreneurial Class in India 801 views Share Like Download ...
MONIRBA, University of Allahabad Historical Timeline of the Emergence of the Entrepreneurial Class in India Follow
Published on Oct 22, 2017
This presentation will help the reader to know when and from where the ... Published in: Small Business & Entrepreneurship 0 Comments 2 Likes Statistics Notes
The Entrepreneurial Class In India • Ancient India-Even in 2700 BC during the Harappan civilization internal and external ... Full Name Comment goes here. 12 hours ago Delete Reply Block Are you sure you want to Yes No Your message goes here
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Sami Ayaan , Student at University of Allahabad 3 months ago No Downloads Views Total views 801 On SlideShare 0 From Embeds 0 Number of Embeds 0 Actions Entrepreneurial Class in Modern India Pre-Independence (1857-1947) By 1858 Britain had whole of India under its rule. It e... Shares 0 Downloads 18 Comments 0 Likes 2 Embeds 0 No embeds No notes for slide
Emergence of Entrepreneurial Class in India 1. 1. Emergence of Entrepreneurial Class In India Presented by - Jaya Tripathi Semester III (MBA – M52) MONIRBA, University of Allahabad 2. 2. Objectives of the Presentation 1. To know when and from where the entrepreneurial class emerged in India. 2. The history behind the emergence of the entrepreneurial class is to be explored. 3. To discuss the major events that mark this emergence. Entrepreneurial Class in Modern India Pre-Independence (1857-1947) Continued… Setting up of the First Indian Mills • In 18... 3. 3. Historical Timeline of the Emergence of the Entrepreneurial Class in India 4. 4. The Entrepreneurial Class In India • Ancient India-Even in 2700 BC during the Harappan civilization internal and external trade was prevalent. Moving onto Iron age, Vedic age, Magadha empire, Nanda dynasty and Mauryan empire trade was widespread and overseas trade was also done. • Medieval India (AD 700-AD 1857) trade was heavily done by the Delhi sultanate and later on by the Mughals. Mughals used to trade with the Arab countries, Persia, and Egypt. They imported silver from Japan, horses from West Asia and gold from East Indies. They traded with Europe and China also. 5. 5. The Entrepreneurial Class In India Continued…. • Indian trade prospered during the Mughal period and Indian products were in huge demand in Britain starting from 1600. Between 1700 and 1720, British government revised its custom regulations twice to discourage demand of Indian goods. This phase continued up to 1757 when East India Company captured parts of Bengal. • With the arrival of the British in India trade was hit as they implemented policies which discouraged indigenous industry. The British administrators transported the raw material to Britain and discouraged indigenous manufacturing to allow the British products to find a market in India. 6. 6. Entrepreneurial Class in Modern India Pre-Independence (1857-1947) By 1858 Britain had whole of India under its rule. It exploited our natural resources and used our population as the customers of its goods. It deliberately kept the economic development of the country in poor shape. Despite these hurdles Indian entrepreneurs like Jamsetji Tata, GD Birla, L.R. Kirloskar, and Jamnalal Bajaj started off ventures which not only encouraged other Indian entrepreneurs but also succeeded. The Swadeshi movement also encouraged consumption of Indian goods and hence these industries. 7. 7. Entrepreneurial Class in Modern India Pre-Independence (1857-1947) Continued… Setting up of the First Indian Mills • In 1854, a parsi businessman Cowasji Dowar set up the first Cotton Textile mill in India. • In 1868 Jamsetji Tata set up the Tata Group. • In 1874 Jamsetji Tata set up a cotton mill called the Empress mill in Nagpur. • In 1880 Wadia set up
a cotton mill in Mumbai. • In 1888, Lakshman Rao Kirloskar founded the Kirloskar group. JAMSETJI TATA “THE FATHER OF INDIAN INDUSTRY” 8. 8. Entrepreneurial Class in Modern India Pre-Independence (1857-1947) Continued… Setting up of the First Indian Enterprise • Tata Iron and Steel Company (TISCO) was the first enterprise to start in 1907 in Jamshedpur, Jharkhand by Dorabji Tata. Before this individual mills were set up, this was a large scale production facility. 9. 9. Entrepreneurial Class in Modern India Pre-Independence (1857-1947) Continued… • In 1919, the first jute mill was set up in Calcutta by Birla. • In 1926, Jamnalal Bajaj set up the Bajaj Group. • in 1932, JRD Tata set up the Tata Airlines, the first civil aviation company in India. • In 1945, TELCO (Tata Engineering and Locomotive Company) and WIPRO were set up. • In 1920 during WW1 raw materials could not be sent to England leading to setup of more factories in India by the British. 10. 10. The Founder Entrepreneurs of India G.D. BIRLA JAMNALAL BAJAJ JRD TATA 11. 11. Entrepreneurial Class in Modern India Post-Independence (1947-2017) • India’s economic development strategy after independence based on Mahalanobis model, giving Entrepreneurial Class in Modern India Pre-Independence (1857-1947) Continued… Setting up of the First Indian Enterprise • ... preference to mining, agriculture, and investment goods sector. • Pt. Nehru wanted to develop the Indian economy on the lines of Soviet Union's socialist structure. He favoured that the state should control every aspect of the economy. • In 1956, the Industrial policy was released. • Between 1960 to 1980, the country’s economy reeled under the “licence raj” and a corrupt bureaucratic system. 12. 12. Entrepreneurial Class in Modern India Post-Independence (1947-2017) continued… • Despite the hurdles, Dr. Verghese Kurien came up with the world’s first buffalo milk powder plant in Anand , Gujarat in 1955. • In 1957, Dr. Verghese Kurien founded AMUL (Anand Milk Union Limited) in Anand, Gujarat. • In 1966, Dhirubhai Ambani set up Reliance Textile Industries Pvt. Ltd. 13. 13. Entrepreneurial Class in Modern India Post-Independence (1947-2017) continued… • In 1991, Dr. Manmohan Singh brought about huge economic reforms in terms of liberalisation. The economic focus changed from an agro based economy to an industrialized one. With LPG (Liberalisation, Privatisation, Globalisation) the barriers for entrepreneurial development diminished leading to growth of the entrepreneurial class. • The Industries Development and Regulation Act of 1971 was abolished in 1991. 14. 14. Entrepreneurial Class in Modern India Post-Independence (1947-2017) continued… • On 14 august, 1995 the first publically available Internet service in India was started by VSNL (Videsh Sanchar Nigam Limited) while the ERNET (Educational Research Network) was launched in 1986. • In 2004 the government formulated its Broadband policy leading to availability of high speed internet in the country and in 2010 the 4G spectrum auction made the 4G internet available. • On 16 January, 2016 the government launched the Start Up India scheme to further support the budding entrepreneurs of the nation. 15. 15. The Current Indian Entrepreneurial Footprint DILIP SANGHVI MUKESH AMBANI AZIM PREMJI KIRAN MAZUMDAR SHAW INDIRA NOOYINARAYAN MURTHI BINNY BANSAL SACHIN BANSAL RITESH AGARWAL 16. 16. Studies on the Emergence of the Entrepreneurial Class in India 17. 17. The Studies On the Emergence of the Entrepreneurial Class in India • The scholars have also tried to analyse the sociological conditions which have played a role in entrepreneurial development in the country. Gadgil studied Indian entrepreneurship in the 17th and 18th centuries from historical perspective and concluded that the modern business Entrepreneurial Class in Modern India Pre-Independence (1857-1947) Continued… • In 1919, the first jute mill was set up in... class mostly came from the social communities that were traditionally involved in trading, finance and handicraft activities in different geographical areas. 18. 18. The Studies On the Emergence of the Entrepreneurial Class in India Continued… • Lamb wrote that since the advent of factory system around the middle of the 19th century, the three Indian communities which entered the entrepreneurial field were the Marwaris, Gujaratis and Parsis. He also wrote that one is puzzled by the apparent contradistinction between the hierarchical view of society as contained in Indian caste system and the obvious vigour of Indian trading communities. 19. 19. The Studies On the Emergence of the Entrepreneurial Class in India Continued… • Hazlehurst in his study of Ram Nagar tried to analyse the factors of caste and social community behind entrepreneurial activity. He pointed out that in the rise of entrepreneurs not only is there a structural continuity in the form of the old trading groups but also a break by way of the refugees, who, according to him, have played significant role in the process of economic experimentation with new consumer goods. However Indian bourgeoisies remained mostly trading partners than an industrial class. H. Venkatsubbiah, however, wrote in 1949 that Indian big bourgeoisie was a class which was yet in the early stage of emerging from a trading class into an industrial class. The surpluses from trading still provided substantial funds for the new industrialization. 20. 20. The Studies On the Emergence of the Entrepreneurial Class in India Continued… • An opposing view is provided by the study of James Berna, who studied 52 industrial installations in the then Madras State, found that the traditional social structure did not stand out as an obstruction in the process of entrepreneurial growth. His study shows that the entrepreneurs, contrary to general belief, do not preponderantly belong to the traditional group of traders with a traditional world view of economic activities and investment. 21. 21. Conclusion • The entrepreneurial class in India has a long history. The factory based production started in India by the middle of the 19th century. Cotton, jute and coal were the fields which constituted the industrial sector. Even during British rule Indian entrepreneurs’ grit made Mumbai “the Manchester of the East ”. • The rise of Indian entrepreneurial class is marked by the entry into the manufacturing sector by three communities Parsis (ship builders), Gujaratis (traders) and Marwaris (money lenders). Industrial bourgeoisies developed in India from merchants and moneylenders. 22. 22. Conclusion (continued…) • As concluding points I would mark the following three events as landmarks in the emergence of the entrepreneurial class in India- 1. 1907-the setting up of the Tata Iron and Steel Company by Dorabji Tata led to more such enterprises by other Indian entrepreneurs. 2. 1991- liberalisation of business activities meant lesser barriers to The Founder Entrepreneurs of India G.D. BIRLA JAMNALAL BAJAJ JRD TATA entry and encouraging atmosphere for entrepreneurs. 3. 1995- internet became the tool in the hands of the educated youngsters to realise their entrepreneurial dreams easily. Companies like Oyo rooms, Flipkart, Paytm, Limeroad, Jio, Menstrupedia, Zivame and many more are all aided by the power of Internet. 23. 23. RICHA KAR VIJAY SHEKHAR SHARMA Thank You!
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The Studies On the Emergence of the Entrepreneurial Class in India • The scholars have also tried to analyse the sociologi...
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