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Zaid Ali
Mahatma Gandhi with Jamnalal Bajaj, Satyagraha Ashram, Wardha, 1934
12P119
Overview
Pre-modern Era
Trusteeship
The concept of Trusteeship Trusteeship as practiced by Jamnalal Independent India: Nehrus vision Trusteeship model : Relevance in todays scenario
Premodern Era
Pre British
Indus Valley
Flourishing Commerce & Agriculture
Aryans
Guptas
Islamic dynasties
Turkish & Afghan Invaders
Mughals
Multiple Kingdoms
Founded by Babur Stable empire Dissolution benefitted rich Indian merchants and bankers
Territorial ambitions
Merchants took to the Company when in dispute with rulers As it consolidated power, princes lost their role
Opened the door for private British merchants Worked closely with local merchants Local and Indian businesses victims of boom and bust cycles
Social Engineering
Almost no interest Banned sati Most existing social structures left in place Lack of tariff revenue Low tax regime Colonial state had high profit with low spending
The Parsees
Origin
Arrived in the
subcontinent from Persia
Evolution
Surat
agriculture & farming
Business
Cotton and
commodity trading
Attracted by
growing prosperity of Bombay
Interpreters &
middlemen for Europeans
Owners of the
Indian Merchant Navy
Wealthy
landowners; close contact with the British
Bombay
increased mercantile
E.g. Tatas
The Marwari
Origin
Thar desert in
Rajasthan
Evolution
Pan India selling
textiles & importing British goods
Business
Indian textiles Opium Jute mills
Traders and
bankers, even to regional Rajputana kings
Calcutta - Selling
opium
On board of
European owned jute mill companies
Bajaj Group
Origin
Marwaris
Business
Cotton traders &
bankers
Sugar refining
industrial venture
Jamnalal Bajaj
followed the TRUSTEESHIP MODEL as applied to firms
Two wheeler
vehicle manufacturer
Trusteeship
Economic equality is the master key to non violet independence & a non violent system of government Business owners should regard themselves as trustees or safekeepers of the wealth in their possession
Trusteeship
Use only what required for sustenance; rest profit distributed amongst stakeholders of the business
The concept of Sarvodaya meaning progress for all using voluntary socialism
led to aversion towards private business Contrary to the Gandhian model; focused on developing Heavy Industries (PSUs) License Raj; Heavy Red-Tape
Firms continuously shifting their focus outwards; from economic stakeholders to societal stakeholders
TATA group, Birla, Bajaj. Evolution of CSR: CSV being an emerging concept Examples:
Project Shakti: HUL Recycling: TetraPak e-choupal: ITC
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