Naushad Forbes, Co-Chairman, Forbes Marshal, shares his thoughts on his family legacy , the Parsi way of doing business and the way ahead.
Category Archives: Business
For the latest and today’s episode, we have another crazy motivational and inspirational stories. This episode is another one of the Indian startups and an Indian entrepreneur story. On “The Ranveer Show”, we have an Indian businessman interview – Jimmy Mistry. This interview with Indian business leaders will tell you the business story of the Indian Businessman, who is also an Indian crorepati.
This Indian millionaire is the owner of Della Adventure and Della Tecnica Architects. Della Tecnica is the brainchild of Jimmy Mistry Architect.
This interview with Indian business leaders will tell you the business story of the Indian Businessman, who is also an Indian crorepati. This Indian millionaire is the owner of Della Adventure and Della Tecnica Architects. Della Tecnica is the brainchild of Jimmy Mistry Architect. This success story is all about Jimmy Mistry Della and narrates the Della and Jim story on how Della Adventures came into existence. Jimmy Mistry interview is a true motivation video and inspiration of how this Della started from being a mechanic to owning a multi-million dollar business and empire. He started at the age of 19 and is still hustling as he looks at growing the business and expanding his business.
This success story is all about Jimmy Mistry Della and narrates the Della and Jim story on how Della Adventures came into existence. Jimmy Mistry interview with Ranveer Allahbadia from BeerBiceps, it is a true motivation video and inspiration of how this Della started from being a mechanic to owning a multi-million dollar business and empire. He started at the age of 19 and is still hustling as he looks at growing the business and expanding his business. I am hoping that this motivational video provides the necessary motivation for understanding how facing failure leads to success. Keep going, guys! Never give up!
Jimmy Mistry’s Instagram: https://www.instagram.com/jimmy_mistry
Jimmy Mistry’s Facebook: https://www.facebook.com/jimmyrmistry/
Della’s Website: www.dellaadventure.com/
A year ago, Parsi community came together to encourage young entrepreneurs and new start-ups and founded a programme to help deserving candidates with interest-free loans and a flexible payment schedule.
The India chapter of the World Zarathushti Chamber of Commerce (WZCC) tapped high net-worth individuals from the community and founded the scheme that already has three
They will have the option to repay the interest-free loan within a span of five years depending on their business model.
“The entrepreneurship scheme is a joint attempt of WZCC and World Zoroastrian Organisation (WZO) Trust Fund. As a community, we have never believed in asking for reservations or quota. So, this is our way to encourage youngsters to be enterprising, and contribute meaningfully to the community as well as the country,” WZCC India president Captain Percy Master told Mirror.
Before being selected, the interested entrepreneurs had to go through a rigorous three-stage process spanning five months, which included their businesses being scrutinised minutely and personal interviews with the business advisory committee.
The committee comprised ten industry leaders from the Parsi community in various fields.
“Our emphasis was to select businesses that are most likely to survive among the challenges of the modern world,” said Captain Master.
The history of a behemoth that is also the history of Indian industry
T.R. Doongaji hails from Nagpur, the place where Jamsetji Nusserwanji Tata started his first venture, Empress Mills, in 1877. When he was around six years old, Doongaji’s cousin would take him to the fire temple where, before entering, he would ask him to touch his head to a bust of “the founder” placed on a pedestal. “I did what he asked me to,” says Doongaji. “Today, I realise that my entire identity is this name.” A J.N. Tata scholar, he spent 52 years (42 in executive capacity) with Tata Group and was managing director in three group companies.
Article by Rachna Tyagi | TNN
A few years ago, some politicians in Nagpur wanted to rename the convocation hall of Nagpur University, the J.N. Tata Hall, to a local leader’s name. A friend from Nagpur called Doongaji, asking if he knew about it. Doongaji dug into the Tata Central Archives to see how the hall was given the name. “We found that the Empress Mills Nagpur had contributed to the funding of the hall, and we had the complete record. We recently won that case in the High Court. I will not allow anybody doing anything with Tata’s name or property,” says the proud Parsi.
Few companies command this kind of loyalty from its people. And, Doongaji attributes it to the leadership of Tata Group. “Between the founder and Cyrus [Mistry], there have been four chairmen—three were knighted and one is a Bharat Ratna,” says Doongaji. “How many groups can claim that quality of leadership?”
It all started when Jamsetji bought a ten-acre piece of marshy land from the Nagpur king and set up Empress Mills. (It was registered in Bombay in 1874 as Central India Spinning, Weaving and Manufacturing Company Limited. Jamsetji had started a trading company in 1868.)
Jamsetji did not want his employees to work in the squalid conditions that he had seen in Lancashire’s cotton mills. So, at Empress Mills, he ensured proper ventilation and had an apparatus installed for humidifying air. Sprinklers were installed to reduce damage by accidental fires. He also set up a provident fund scheme, the first of its kind in India, and an accident compensation fund.
When Jamsetji returned to Bombay, he had made enough money and he turned his attention to purchasing property. Soon, he became one of the wealthiest men in the country. He then began investing in the industrial future of India and drew up plans for many ambitious projects.
The first family: (Standing from left) Jamsetji Tata’s younger son Ratan, Jamsetji and Ratan’s wife; (sitting from left) Jamsetji’s wife Hirabai, Dorabji’s wife Meherbai and Dorabji.
During a visit to the US, at the behest of industrialist George Westinghouse, Jamsetji saw the hydroelectric project at the Niagara Falls. Jamsetji had been planning a hydroelectric project in India and the visit firmed up the decision. In the Lonavala and Khandala areas of the Western Ghats, which gets one of the heaviest rainfalls in the world and has the right kind of soil, valleys and slopes, he began the work for the Tata Hydroelectric Supply Company. Gigantic pipes forced water to the foot of the mountain at Khopoli, where at the power house, it would be converted into electrical energy. This project turned out be a game-changer, as it provided electricity to the growing city of Bombay.
Tata Hydroelectric Supply Company was registered as a public concern on November 7, 1910, and it commissioned the project on February 11, 1915, when Lord Willingdon, the governor of Bombay, inaugurated it. “Today, the major chunk of our power is being supplied to industries, hospitals and residences,” says Rajesh G. Naik, head of operations and maintenance, Tata Power. The total capacity of the plant is 447mw.
A big attraction at the project is the 14-acre garden in Lonavala. Jamsetji had a keen interest in gardens, and he brought home plants and seeds from all over the world. When the steel plant at Jamshedpur was being constructed, he wrote a detailed letter to his son, Dorabji, on the fast-growing variety of trees that he wanted him to plant on the site. Said Vivek Vishwasrao, head of biodiversity at Tata Power: “We fall in the northern part of the Western Ghats which is a major bio-diversity hotspot. Some of the species of plants, animals and birds found here are not found anywhere in the world.” Similarly, the beautiful Tata Baug, built in 1891 on 22 acres in Navsari, is maintained by Dr Rohinton Avari, who has a doctoral degree in landscape horticulture.
Jamsetji was an “omnivorous reader”, and a fan of Dickens and Thackeray. “He was fond of driving, a good judge of horseflesh, and duly proud of his well-bred Arabs, English Hackneys or Hungarians, and of his smart turnout. At times he enjoyed sailing and boating, and entertaining his friends at picnic parties,” writes Frank Harris in his book Jamsetji Nusserwanji Tata: A Chronicle of His Life.
When it comes to ‘firsts’, however, Jehangir Ratanji Dadabhoy Tata’s achievements stand out. From obtaining India’s first pilot’s licence to starting the first cancer hospital in the country, J.R.D. Tata sowed the seeds for a better India. His father, R.D. Tata, was a nephew of Jamsetji’s mother, and his mother, Suzanne Briere, a French citizen. He was born in Paris and spent his childhood in France. After his father’s death, he succeeded him to become a director of Tata Sons at the age of 22.
J.R.D. became Tata Sons chairman in 1938, at the age of 34. The group had 14 companies then. When he stepped down in 1991, there were 95. But his contributions went well beyond Tata Group and its businesses. For instance, he helped Homi Bhabha set up India’s atomic energy programme. Then he helped Homi Bhabha’s brother Jamshed Bhabha set up the National Centre for Performing Arts (NCPA) in Mumbai.
Matter of loyalty: T.R. Doongaji | Janak Bhat
The brightest star among the companies that J.R.D. started was Tata Airlines (which later became Air India), as it quickly earned a global reputation as one of the finest carriers. “J.R.D. would always say that Air India was his first love, and I would hope that he would say that Tata Steel was his second,” says J.J. Irani, former managing director of Tata Steel. “He would laugh at that, but he never gave me an answer.”
Irani says J.R.D. was parsimonious. “Even though he was at the helm of the Tata Group for 53 years, he never owned a personal plane,” he says. “The house he stayed in was not his own; it was rented.”
“J.R.D. was a man of principles,” says Irani. “One day he came to office looking glum, and at lunch he said, ‘I’ve lost my pen set. I was very attached to it.’ I made a note of it. A few days later, I was in London, and I dug it out, bought it and on my return gave it to him. His first impression was that of great happiness. ‘Yes, exactly like mine,’ he said. Then I saw his expression changing. ‘No, Jamshed, this would be breaking my principle of accepting gifts from officers,’ he said. I said, ‘But, no one would know.’ And he said something very important, ‘Yes, I know you won’t tell anybody, but I would know, and that’s not acceptable to me.’ He returned it to me. I still have it.”
J.R.D. worked through empowerment, and was a master delegator. “He created stalwarts like [Sumant] Moolgaokar, [Russi] Mody, [Ajit] Kerkar and [Darbari] Seth,” says Doongaji. “He operated through empowering people.”
Ratan Naval Tata, who took over from J.R.D. in 1991, had an entirely different task at hand. “Liberalisation suddenly happened when Ratan Tata took over, and Tata holding in Tata Steel was just four per cent. Ratan had the task of protecting it. So, again, consolidation had to happen. He actually insulated us from becoming sitting ducks for takeovers. It was a big task, and he has achieved that,” says Doongaji.
It is said that many of Ratan Tata’s business moves were not just cold, calculated decisions. “He is a person who uses his right brain a lot,” says R. Gopalakrishnan, author & corporate adviser at Mindworks and a former Tata employee. “Most managers are trained to use their left brain, to be logical, analytical and nobody uses only his left or his right brain. Artists and musicians are trained to use their right brain. Ratan Tata had an unusual combination, I found, where he would allow enough play for his intuition. Maybe coming out of his personality or his training in architecture.”
Ratan Tata spearheaded the group’s global pursuits. It was not just the big-bang purchases like Jaguar-Land Rover or Corus Steel, but also a well-thought-out expansion leveraging the group’s strengths. Tata Chemicals, for instance, had been in the business of salt and soda ash for decades. Then a time came when it was felt that it should start looking for markets other than India. “At that point of time, Ratan Tata had the view that we could be in counter-cyclical products or in counter-cyclical markets; all markets do not go into a downturn at the same time,” says R. Mukundan, managing director, Tata Chemicals. “And, the second view was that if India was going to be open, everybody was going to come in. We were strong enough in India; are we not going to go and address them? Are we just going to be sitting here?”
Ratan Tata | Amey Mansabdar
Tata Chemicals’ strategy was to link the lowest-cost production centre in the world with the most attractive market through the best supply chain. Today, Tata Chemicals’ biggest operation is in Wyoming, US. “It is two and a half million tonnes of naturally mined soda ash. It is a brilliant acquisition which has played out very well for the company; it has been profitable from day one and continues to pay us dividends,” says Mukundan.
One of Tata Group’s biggest investments in India has been the Rs 25,000 crore steel plant in Kalinganagar in Odisha. It is nothing less than a new beginning for the steel giant. “With 3,000 acres of land, we are expanding from three million to eight million tonnes, and we can easily double that if we have the appetite, the money and the balance sheet,” says T.V. Narendran, CEO and managing director, Tata Steel. “It will be one of the most efficient steel plants in the world once we have completed the expansion at eight million tonnes.”
Tata’s future, however, is expected to be less dependent on the traditional businesses; but even the future businesses will be dependent on the Tata brand. “In the aerospace industry, credibility, quality and dependability are extremely crucial, and there is very strong resistance to move from one supplier to another because these things are critical,” says Banmali Agrawala, president (infrastructure, defence and aerospace), about how it got to do business with the likes of Boeing, Airbus, Lockheed Martin and Sikorsky. “So, it is not just cost; there is a whole ecosystem of trust that goes with it. I think we have built that over the last seven years, and in many cases, we are now the single-source suppliers to many of the global OEMs.” Recently, for instance, Boeing was very happy that Tata delivered an order for the fuselage for the Apache helicopters ahead of schedule.
Agrawala says Ratan Tata is a rockstar. He recalls an incident when they were travelling together and talking about planes. “He knows a lot about planes,” says Agrawala. “He educated me about what kind of fighter aircraft featured in the movie Top Gun. I would ask him, how can you make out and he would say, ‘Look at this particular feature, and that’s how you make it out’.” He says Ratan’s mild demeanour is not to be mistaken for weakness. “If we are bidding for a project, we have got to win; if we are trying to buy something, we need to end up buying it; and we better not fail,” says Agrawala.
Guenter Butschek, who had a long career at Mercedes-Benz and a shorter one at Airbus, visited India in 2015 on Diwali week. He loved it, and concluded that if he got a job offer, he and his wife would be “ready for incredible India”. He got many offers, and it was Tata Motors that attracted his attention. He joined the company in 2016, and quickly realised that it had lost a little bit of track and market share in the past few years, and there was “some work required in order to stop the bleeding, to turn the company around and to get it back to its old glory”. “You cannot continuously bleed as a company while trying to reach this higher purpose as far as community is concerned,” he says.
Butschek was amazed at the unique corporate culture at Tata. “The most striking part is Tata’s culturally embedded commitment to the community,” he says. “To say that I am working for a company which is a huge economic powerhouse—but at the same time, a powerhouse as far as nation building and the community support is concerned—made it a very attractive offering.”
Butschek has a clear plan for Tata Motors. “The first quarter [of the next fiscal] is when you will be seeing the Harrier [compact SUV], in its five-seater version, on the road as a diesel version, and in September you are going to see the seven-seater. The premium hatch 45X, which has attracted the attention of many, is going to be in the market in the second half of the first quarter.”
Tata’s 150 years of existence has been the history of Indian industry. And there is only one reason it continues to be as relevant. “The first word associated with Tata is trust,” says Doongaji. “It is the most trusted name. In any country, what is the most important thing that makes you trustworthy? Currency.” Jamsetji Tata is the only businessman to appear on the currency of a country. “You will have Washington or Lincoln, but you will not find a businessman,” he says. “On his 175th birth anniversary, the government of India released a 0100 coin and a 05 coin with Jamsetji Tata’s face on it. What does it say? Epitome of trust, that’s us.
Dr Cyrus Poonawalla, Founder of the world’s largest vaccine manufacturer, Serum Institute of India, has been nominated from India for the prestigious Nobel Prize ,said Dr Parvez Grant, Managing Trustee of the Ruby Hall Clinic. He was speaking in an event held in JW Marriot, Pune on Sunday to felicitate of Dr Cyrus Poonawalla who was recently conferred an honorary ‘Doctor of Humane Letters’ degree by the Massachusetts Medical School at Boston for his unparalleled work in the field of immunisation at the global level.
Dr Poonawalla was awarded the Padma Shri in 2005 for his contribution to medicine, and a Lifetime Achievement Award by the then Prime Minister Manmohan Singh.
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The words were uttered memorably by Jamsetji Tata, the man who broke new ground for Indian entrepreneurship much before the term was coined. Some time back we brought to you a podcast about how the idea of the great big Indian business family continues to endure at a time of brash, young but uproariously successful ideas. And no business exemplifies this resilience better than Tata Sons.
As we mentioned in the last podcast, entrenched family businesses are more politically savvy than new players and understand how to adapt to India’s ever evolving social and entrepreneurial landscape.
Even as two of Tata’s flagship companies, Tata Motors-owned Jaguar Land Rover and Tata Steel Europe, navigate international negotiations currently, the headlines today state that Tata Sons has appointed former foreign secretary S Jaishankar as president, global corporate affairs. This is clearly a well-thought out move and bodes well for the company. He will be overseeing Tata group’s global corporate affairs and international strategy development.
In an official statement, Jaishankar said that he looks forward to working with an iconic institution known for its value-based leadership.
His statement conveying in not so many words that a pioneering business enterprise evokes more than just numbers.
So let us today, talk of a success story that is not just about products but legacies. A legacy which now includes TCS, the freshly minted USD 100 billion company. It is also time for us to acknowledge on this podcast the irrefutable fact that even those of us who have never worked for a Tata company have been touched in some way by its services, products and messaging.
Tata Sons, the family that pioneered CSR
Many of us still remember the vintage ads about their steel legacy, where the Tatas used this key phrase, “We also make steel.”
It was in 1988, that the Tatas first ran an ad on Doordarshan, not about a product but nation building. It showed us the impact conscientious corporate policies have on employees and even consumers. That ad captured in a few seconds the idealism of the founding fathers of Tata Sons. 1988 was also the year, Tata Steel became the only integrated steel company in the world outside Japan to win the Deming Application Prize for excellence in Total Quality Management.
The ad with the punch line, “We also make steel” also summed up what we would come to understand in the years to come as CSR (or corporate social responsibility).The Tatas in a way pioneered the idea of philanthropy being intrinsic to corporate philosophy.
And so it turns out that the term family in the case of Tatas has always had a broader meaning. And as was evident in the famous ad, The Tatas did not just build a steel plant. They built a city for their employees where there are more amenities than some of the biggest metro cities in India. The city has multiple academies for varied sport disciplines, golf courses, a hospital, leafy avenues, stadiums, a local power utility and a lot more.
Jamshedpur or Tata Nagar was built in 1907 and today the Tatas’ contribution to its infrastructure even includes an Rs 100 crore, 11-km highway. This level of investment in human capital is what lasting legacies are built of. And that is why, too many Tata employees, being part of the Tata family means that often succeeding generations also end up working for the company. And yes, Tata Steel hasn’t seen a day of strike since 1928.
CSR with constant diversification and global dominance
And we are just beginning to scratch the surface of what the Tata family stands for.
Even as first generation entrepreneurs in India challenge entrenched business houses with out of the box ideas like Flipkart, old warriors like Tata Sons are striving to remain relevant by diversifying and exploring new avenues constantly. Tata sons continue to exemplify the undiluted power of a family owned business, having weathered storms of all kinds through the decades.
And the Tata family is thriving still in a country far different from the one it was first conceived in. Many Tata companies have achieved global prominence over the years as they redefine their skill profiles to suit the ever evolving business environment. Tata Communications for instance is a leading international wholesale voice provider and Tata Motors is among the top ten commercial vehicle manufacturers in the world.
While Tata Steel, the heritage brand of the Tate empire is among the top fifteen best steel companies, TCS is the second largest IT services company in the world. Tata Global Beverages continues to be the second-largest tea company in the world and Tata Chemicals is the world’s second-largest manufacturer of soda ash.
How a homespun success story began
The Tatas originally arrived in Mumbai from Navsarii, Gujarat and the first man in the family to strike gold was Jamshedji Tata.
Jamshedji Nusserwanji Tata was not just the patriarch of the Tata business empire but the father of modern Indian entrepreneurship.
It was in 1868, that Jamshedji Tata founded the Tata group which went on to become a global enterprise, comprising over 100 independent operating companies operating in more than 100 countries across six continents. In 2016-17, the cumulative revenue of Tata companies, was USD 100.39 billion.
According to the Tata website, there are 29 publicly-listed Tata enterprises today with a combined market capitalisation of about USD 130.13 billion (as on March 31, 2017). Tata companies with significant scale include Tata Steel, Tata Motors, Tata Consultancy Services, Tata Power, Tata Chemicals, Tata Global Beverages, Tata Teleservices, Titan, Tata Communications and Indian Hotels.
The original vision that fuelled the conception and expansion of industries of steel, hydro-power, hospitality and airlines went on to create path breaking entities. Entities such as TCS, India’s first software company, and Tata Motors, which has to its credit India’s first indigenously developed car, the Tata Indica and the smart city car, the Tata Nano.
Tata Sons however continues to be the principal investment holding company. A remarkable aspect of this story is that sixty-six percent of the equity share capital of Tata Sons is controlled by philanthropic trusts supportive of art and culture, education, health, livelihood generation etc.
The majority shareholders of Tata Sons, have routinely endowed institutions to research science and technology, medicine, social studies and the performing arts. The trusts also provide aid and assistance to non-government organisations working to improve education, health care and livelihoods.
The company’s mission statement in its own words continues to be based on, customer-centricity, innovation, entrepreneurship, trustworthiness and values-driven business operations. All this while the company balances the interests of diverse stakeholders including shareholders, employees and civil society.
Jamshedji Tata, the man in a hurry to build an aspirational business idea
And it all began with Jamsetji’s vision of building India’s first steel mill and hydro power plant that would galvanise industry in India.His most important contribution though was to create an aspirational idea of India where Indian entrepreneurship could claim its place proudly on the global stage with other industrialised nations.
He was energised by the patriotic idealism of a man who not only wanted to create an empire but to root it in humanism. That he envisioned the House of Tatas spanning generations at a time when India was colonised and was crushed by poverty is even more remarkable.
On March 3, 1839, in Navsari, Gujarat, he was born to Nusserwanji Tata, into a family of Parsee priests. His father paved the way for him by breaking away from the tradition of priesthood and establishing a banking business. Jamsetji was enrolled at Elphinstone College, from where he graduated in 1858 and soon he joined the small firm that his father ran. He was just 20 and soon began to learn about commodities, markets, trading and banking.
In 1868, aged 29 he started a trading company with a capital of Rs 21,000. Already a visionary, he acquired a defunct oil mill in Chinchpokli, in Bombay, and converted it into a cotton mill. Even though, he sold the mill two years later, he went to England, to exhaustively study the Lancashire cotton trade.
In 1874, Jamsetji founded the Central India Spinning, Weaving and Manufacturing Company, with a seed capital of Rs 1.5 lakh. Three years later, his dream project. Empress Mills came into existence in Nagpur. He was 37. From about 1880 to his death in 1904, Jamsetji devoted himself to three of his big dreams, setting up an iron and steel company, generating hydroelectric power, and creating a world-class scientific institution.
He died without fulfilling these dreams but his spadework resulted in future generations giving shape to his unrealised ideas. His heirs would remember his heroic efforts to build a steel company despite the odds presented by a scornful British empire and road blocks at every step. Eight years after his death, the first ingot of steel rolled out off the plant’s production line. The year was 1912 and helming his vision were now his son Dorab and cousin RD Tata.
Jamshedji Tata’s encompassing vision for the extended Tata family
In his lifetime, Jamsetji also laid the foundation for the company’s well-known worker friendly policies by offering his employees shorter working hours, well-lit and properly ventilated working spaces, and provident fund and gratuity benefits even before they had become mandatory in the West.
We have already mentioned Jamshedpur and it was Jamsetji who had visualised the concept of an idyllic workers’ township at a steel plant five years before even a site for the enterprise had been chosen. He had visualised wide streets planted with shady trees, plenty of space for lawns and gardens, areas for football, hockey and parks. The secular nationalist also wanted spaces earmarked for temples, mosques and churches. It was poetic perfection that when his vision became a reality years after his death, the city that was built would be named after him and called Jamshedpur.
Inspired by his dream to encourage India’s brightest minds with the JN Tata Endowment in 1892, the inheritors of this legacy established Tata scholarships. They would go on to touch so many lives that by 1924, two out of every five Indians in the Indian Civil Service happened to be Tata scholars.
To establish an Indian Institute of Science, Jamsetji had set aside Rs 30 lakh of his money, had even drawn a blueprint and beseeched the Viceroy, Lord Curzon, and Swami Vivekananda for their literal and ideological support. But despite these efforts, he did not live long enough to see the Indian Institute of Science come up in Bangalore in 1911.
The hydroelectric project too was completed after his demise. Among the dreams he lived long enough to realise was the Taj Mahal Hotel in Bombay. He wanted to build a world class hotel showcasing Indian hospitality after being denied entry into one of the city’s hotels. It cost Rs 4.21 crore by the time it was finished and was the first building in Bombay to use electricity and as the trivia on Tata website states, this was the first hotel in the country to have American fans, German elevators, Turkish baths, English butlers and whole lot more.
The house of Tata that we know today was hence built on the shoulders of this man whose founding ideals were then carried forward and interpreted by succeeding generations making the family business more than just about the immediate family. As he wanted, the name Tata today stands for not just cutting edge entrepreneurship but philanthropy. He passed away in Germany in 1904 and the chairmanship of the Tata group passed to the elder of his two sons, Sir Dorab Tata.
Apart from displaying their entrepreneurial verve, many Tata scions like Sir Ratanji Tata: Jamsetji Tata’s younger son, have used their resources to touch, change and enhance lives of the less privileged. It was Ratanji who created a trust fund for “the advancement of learning and for the relief of human suffering and other works of public utility.”
The Sir Ratan Tata Trust is today the second largest of the Tata trusts. Another Tata scion Naval Tata also contributed liberally to the fields of business, sports administration and labour relations.
On the other end of the spectrum was the unstoppable energy of JRD Tata (Chairman, Tata Sons: 1938 – 1991) who put India on the aviation map and pioneered civil aviation in the subcontinent in 1932 by launching the airline now known as Air India.
More than just another family business
The true capital of the Tata group of companies is its work force of over 6,60,000 people worldwide. And as the company says, “Taking good care of this large family is a priority for the Group.” So as we said before, clearly the word family has more than just one meaning when it comes to the Tatas.
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Mumbai, March 07, 2018: World Zarathushti Chamber of Commerce – India (WZCCI) and WZO Trust Funds (WZOTF) are delighted to announce a joint plan to support entrepreneurs / professionals / start-ups by funding selected projects in India with interest-free loans. The principal amount only would have to be returned, over a pre-determined period.
WZCCI and WZOTF would like to invite Zoroastrian Donors to please come forward to donate Rs. 5 – Rs. 25 lakhs towards creating a corpus of Rs. 5 crores to help young people to start-off their entrepreneurial careers or help small businesses reach scale.
Says Edul Davar, Global President, WZCC from New York to young Zoroastrians, “Today is the right time for the right idea and opportunities are limitless for the bold and restless who are willing to dream big, work hard and persist until they achieve success”.
Says Captain Percy M Master, WZCC President – India Region, who will drive the project in India, “With this Financing Initiative we are fulfilling a long time need to encourage the youth of our community to venture into business. Our request to Youth is to come forward with a good Business Plan. We will Guide you and Mentor you to taking the first steps to start your own business. We are confident that this is a small beginning of something big. Please don’t miss this opportunity. We have great confidence in the future of our youth and in the glory of our community. May Ahura Mazda bless our youth and propel them to greater heights to become the stars of our Community”.
Says Mr. Dinshaw Tamboly, Chairman WZOTF, the enabling organization for this project, “WZO Trust Funds, have over the years encouraged, motivated and supported community members to be self-employed. Between 1995 to end March 2017 we have extended interest-free financial support up to Rs. 5,00,000/- to 1,038 individuals at 114 locations in India towards being self-employed in disciplines of their choice. The new initiative of WZCC and WZOTF working together in tandem towards a common goal promises to give a further boost to the Zoroastrian spirit of entrepreneurship lying latent in the minds of many in our community.”
WZCC – I and WZOTF sincerely hope that a large number of well placed, India based Zoroastrians will come forward and donate sums of money to give a big boost to Zoroastrian Entrepreneurship in India. A separate fund raising drive has also been initiated in US and other parts of the world to contribute to this fund. WZCCI and WZOTF also hope that a large number of youngsters will come forward and avail of this offer by presenting well-thought through and comprehensive business plans. For more information, please contact: firstname.lastname@example.org | +91 9619165444 / +91 7045225939 | email@example.com; firstname.lastname@example.org | +91 22 23684451/52/53 or USA: email@example.com | +1 9083974443
WZCC is a global enterprise established in the year 2000 and now has 14 chapters established in Vancouver, Southern California, Houston, Chicago, Central Florida, New York, London, Tehran, Dubai, Mumbai, Pune, Bangalore, Hong Kong and Sydney. The mission and purpose of WZCC is to facilitate networking, enhance trade & commerce, build the Spirit of Entrepreneurship and thus bring economic prosperity to Zarathushtis worldwide.
WZOTF was established in the year 1995 at Mumbai and has a Pan India presence actively extending support to Zoroastrians in diverse areas of need, in keeping with its principles – ‘Building Confidence, Changing Lives, Creating a Strong Community’.