Prime Minister Narendra Modi has decided to honour Tata Group founder Jamsetji Nusserwanji Tata by releasing commemorative coins to mark his 175th birth anniversary.

The coins, a first for an industrialist, are being minted on the instructions of the Prime Minister’s Office with an eye to enthuse Indian businesses for Modi’s ‘Make in India’ campaign.

Jamsetji was chosen by the Modi government because he is regarded as the “father of the Indian industry” for setting in motion what became Asia’s first integrated steel company, despite the hostile investment environment of a colonised India and his own failing health.

The coin release, sources said, would be done at a small ceremony at the Prime Minister’s residence on January 6. The guest list of industrialists is yet to be finalised.

A collector’s item, the set of Rs 100 and Rs 5 coins in silver depicting Jamsetji’s bust, has been fabricated by the Kolkata mint of the Security Printing and Minting Corporation of India and would be priced at Rs 4,500 each. Initially, only a dozen sets have been sent for being presented to the dignitaries.

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