Today Tata groups are one of the topmost industries of India. The mastermind behind starting the great business planning was Tata Jamsetji. He is known as the “father of Industrialist” in India. The initiative was before independence when Jamshedji starts a trading company. Tata groups have widespread their business from automobiles, finances to telecommunication, steel and tea. The company holds a net worth of Rs. 761 billion. Now, the Tata industry rules successively coping and growing with the changes in technologies and market.

Pioneering among industrialist tata groups the main endowment is from Tata Jamsetji. At the age of 29, he started his trading company in 1868, keeping in mind the inception for the future. His intense farsighted planning to boom as an industrialist is still distinguishable in modern India.

Young mind in the family business

Stepping into the family business was his intention to learn and improve to stretch their business worldwide. Jamsetji being a young mind with various new ideas and conceptions were booming the business. It has been a great path to lift and widespread to Europe, China and Japan. The entire country was struggling for independence when the business was ecstatic.

Tata Jamsetji An Observer

Tata Jamsetji had a great interest in growing faster and grooms his business. This is one of the reasons that he was a quick learner who was looking forward to establishing faster. He was a young mind who roamed around the world to learn about business skills and advanced technologies before stepping into his new trading company.

Factory in Nagpur

After his world tour for his family business expansion and learning the skills the “father of industrialist” established his factory in Nagpur. The factory is known as the heart of Nagpur, here exists a long term plan by the ambitious Jamsetji. The empress mill was not a business but also the local people were able to grab job opportunities.

The mill still exists from 1886 in Nagpur which later extended to Hyderabad in 1903. The mill was for weaving and manufacturing which was later renamed Empress Mill in 1877. With the expansion of the weaving and clothing that was exported to China, Japan and Korea.

1892 endowment for students

The next biggest step was the Endowment fund by the Jamshedji. This was for funding the students who want to study abroad. The JN Tata endowment fund was established in 1892.

Hydroelectric plants By Tata Jamsetji

Finally, the major prospects were visible when the hydroelectric plants were finally into the dream plan. The dream plan was true when the hydroelectric plant was set up in 1982, and providing science education to the Indians.

Tata Jamsetji initiative has elaborated the business strategies which now operates worldwide for 80 countries. Starting from a trading company the business has seven sectors that run not only in India but all over the world. The person who dreamt about developing the iron and steel industry took to diversify businesses to the top leading industries.

The post Why Tata Jamsetji is known as the “Father of Industrialist”? appeared first on Youngisthan.in.

Indian economy is on a roll for some years and even in the worst case scenario, millionaires are being produced in the country faster than the speed of thought!

Ever few days we read about a new kid on the block with massive bank balance who used to be nobody just a couple of years back. So yes, lot of money is flowing in the hands of ever growing list of individuals while at the same time there are many many more who are barely able to survive.

With thoughts about such underprivileged souls, big celebrities across the world have pledged to share their entire wealth or part of their wealth with the society.

In this context a statement by actor Jackie Chan makes a lot of sense. He has pledged to donate half his wealth to charity after he dies and doesn’t want to leave a fortune for his son. His simple logic is: “If he (his son) is capable, he will make his own money. If he is not, then he will just be wasting my money!”

This makes lot of sense in Indian context where traditionally there is a trend of family wealth handed down generation after generation.

But are our mindsets changing?

Are Indian millionaires, like their global counterparts like Bill Gates, Warren Buffet etc. ready to donate or share their wealth?

The most striking example came to light a couple of days back when the controversial CEO of Housing.com, Rahul Yadav announced that he is allotting his entire stake in the company, which is worth Rs. 150-200 crores to all of his employees!

In simple words, around Rs. 10 lakh per employee which is huge!

It might be a publicity gimmick, but on the face of it, this really makes sense for thousands of his employees. Yes, he is not helping the poor and downtrodden, but then it is not easy to give away all your earnings when you have earned it all when you’re just 26!

But the response to his call to his fellow businessmen, CEO’s of Zomato and Olacabs has been less than encouraging. While Deepender Goyal of Zomato replied to Rahul’s challenge of donating half their worth by saying, “Aww so cute”, Bhavish Aggarwal from Olacabs replied, “Give that man a cookie”.

Obviously it may not make business sense to let go of all your earnings, but then starting to do major philanthropy early in your career when you’re actually making millions is not a bad idea! Most of the major donors in our country, the likes of Tatas, Ambanis, Azim Premji’s etc have started this big time charity at a very old age now! All these big businessman have pledged to donate millions to various causes and charities they support, but such a similar step from the youth of today and the newly made millionaires will help a long way to change the mindset of the country!

Helping others when you have more than enough to last a few lifetimes is a cause one needs to work for relentlessly.

Let’s hope these millionaires become billionaires and many more join the ranks with the thought of giving back to the society and sharing their riches!

The post Are Indian Millionaires Ready To Share Wealth? appeared first on Youngisthan.in.