Remembering Jamsetji Tata: Industrialist, father of great industrialist in today’s era and a well-known business pioneer Jamsetji Tata was born on 3rd March 1839 at Navsari, Gujarat, India to Nusserwanji Tata and Jeevanbai Tata. At the age of 14 he got himself 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.
Jamsetji Tata’s Career
Jamsetji Tata worked with his father until the age of 29, after then 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 including Japan, Korea, China and several parts of the Middle East. The mills were largely established to adhere to Jamsetji Tata’s business acumen, but the Dharamsi Cotton Mill was later renamed as Swadeshi Cotton Mill by keeping 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 people were never thought about 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 the part of the companies owned by Jamsetji Tata.
Jamsetji Tata’s Death
Jamsetji Tata passed away on May 19, 1904. But till date he is a source of motivation and inspiration for the entrepreneurs across the world, that leading business entrepreneurs are following his path to achieve the heights of success in this 21st century.
Jamsetji Tata’s Business Venture- Tata Group
After 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.