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Hans India
27-04-2025
- Politics
- Hans India
SC categorisation a conspiracy to divide dalits: Chinta Mohan
Ongole: Former union minister and senior Congress party leader Chinta Mohan called the SC categorisation ordinance issued by the Government of Andhra Pradesh a conspiracy to divide dalits, at a press meet in Ongole on Saturday. Speaking to the press, Mohan said that the 11 years of Narendra Modi's rule have disturbed the country. He said that though the prime minister is making a foreign tour once a week, he failed even to conduct a press meet to explain his achievements. He observed that there is economic disparity even after 75 years of independence, as the financially strong sections are getting stronger and the weaker are getting weaker day by day. He said that hunger, despair, and unemployment are dominating India, and the ruling party is calling it Viksit Bharat. He said that the Muslims, the poor, and all sections of society are worried and coming onto the roads in protest against the decisions by the union government. He said that SC, STs, who are about 25 per cent of the population in the country, are receiving only 1 per cent of the bank loans, while BCs, who are about 50 per cent population, are getting less than 2 percent of the loans. But, he said that Marwaris and Gujarathis are receiving the bank loans, and defaulting on them. Mohan said that the NDA parties want to divide dalits as they found out that dalits are nearer to achieving political power. He demanded categorisation in the contracts, mines, bank loans, social justice, etc., but not in the posts of nurses or constable jobs. The governments, he said, are distributing thousands of acres of land to corporate companies for a cheap price, but are not even giving housing plots of two cents to working journalists and others. He said that the Christian community still believes that the death of Pastor Praveen is due to murder, and the government failed to provide enough proof that it was an accident.
Hindustan Times
25-04-2025
- Business
- Hindustan Times
The Chettiars could have rivalled the Marwaris had history played out differently: New book
In his new book Fortune Seekers, economic historian Raman Mahadevan maps the rise of the Chettiars — and why their vast Southeast Asian network didn't last. The Chettiars were reportedly known as the 'bankers of the East'. Exactly how powerful were they in their heyday? They were really big and economically quite influential. Some estimates suggest that the total assets of the Chettiar community, which were valued at around ₹10 crore in the 1880s, had by 1929 grown phenomenally to about ₹200 crore. Keeping in mind that this was a small community — some surveys suggest they numbered just around 1,25,000 in the 1930s — this was a very impressive achievement. Their migration to the Far East picked up in the 1870s, catalysed by the opening of the Suez Canal, which effectively shrank the distance between Asia and global markets. That had a huge impact on the whole process of commercialisation and created business opportunities, which, in a sense, triggered the movement of Chettiar capital to these regions. In Burma, for instance, while Europeans owned the big rice mills, the financing of agricultural production was almost entirely in the hands of the Chettiars. That's where they made their money. Similarly, the global automobile industry required rubber and tin — both of which came from Malaya — and again, the Chettiars financed the production of these commodities. In Ceylon, they funded the non-European coffee, tea, and coconut plantations. The crisis began with the Great Depression and deepened with the Second World War. Counterfactually, you could argue that had these global shocks not occurred, the economic landscape in India might have been very different. If the Chettiars had managed to bring all that capital back to India, they could well have become what the Marwaris were in Bombay and Calcutta. How did they differ from the Marwaris and Banias? One major difference was that the Chettiars went abroad in large numbers. The Marwaris did go too, but far fewer. While many Marwaris were bankers, they were also predominantly traders. My theory is that the transition from trade to manufacturing is easier — their access to market and commercial intelligence provided a certain edge to the trading class and gave them a head start in industrial ventures. In western India, Marwaris and Gujarati Banias were able to move into paper, sugar, and textiles. But the Chettiars' domestic footprint was relatively limited until the 1930s, as much of their capital remained locked overseas. More importantly, as the return on investment through banking in Southeast Asia was significantly higher than in Indian industry, there was no major inclination on their part to invest in industry. The risk the Chettiars took was also much greater as compared to other business communities. All business communities are risk-takers, of course, but the Chettiars, by moving out of South India to Southeast Asia and by learning new languages, operating in remote foreign regions governed by different legal systems, would seem to suggest that they displayed greater risk-bearing qualities. Another distinctly unique system they developed to enable them to make good use of their capital investment was the intra-community credit network — where one Chettiar would finance another. That speaks to a high degree of enterprise and trust. This is clearly suggestive of a system where mutual faith and a high degree of trust was central to their business enterprise. While many Chettiar firms faded post-independence, a few built lasting business houses. What set them apart? The Chettiars began repatriating some of their capital back to India in order to invest during the 1940s, when World War II created highly profitable conditions for business. Apart from textiles, a major area was plantations. Some Chettiars also ventured into Bombay. One such example is Alagappa Chettiar, who invested heavily in insurance companies but lost out due to overtrading. The MCT Group, which founded Indian Overseas Bank, also had investments in Elphinstone Mills. But large-scale domestic investment remained limited. After independence, you see figures like M.A. Chidambaram, after whom the cricket stadium in Chennai is named, making more serious moves. He acquired Automobile Products of India, the makers of Lambretta scooters, and also invested in diesel engine production. Later, he diversified into chemicals. The Murugappa Group is a standout example of Chettiar success. Two factors, I think, set them apart. First, the intrafamilial bonds were exceptionally strong, and the elders in the family ensured that the cohesive spirit was maintained across generations. Most business families begin to fragment by the third or fourth generation — but in their case, it seems clear this was anticipated and addressed early on. Second, they maintained a disciplined focus on core competencies — especially engineering-related sectors like Tube Investments and Carborundum Universal. Only after consolidating in those sectors did they diversify, for instance, with the acquisition of Parry & Co., which was in a different line of business. What can today's small and medium enterprises in India learn from the Chettiar model — especially in how to institutionalise trust, capital, and scale across generations? I think the most important lesson that today's entrepreneurs — small and medium included — can draw is the notion of trust and mutual accommodation, a feature central to the Chettiar model. This would enable entrepreneurs to optimise costs and cut down competition. The export-oriented Tiruppur knitwear industry is a good example of the Chettiar model. Chettinad cuisine is famous for its fiery meat dishes, but the community began as vegetarian. Did their migrations reshape their cuisine? Food isn't my area of expertise, but you could well be right. The Chettiars were — and are — devout Shaivites, and vegetarianism was a natural offshoot of this faith. In fact, the Tamil word for vegetarian food is 'saiva saappadu'. So yes, the long years of exposure to overseas cultures must have played a significant role in the evolution of their cuisine — from an exclusively vegetarian to a more inclusive cuisine. Their use of spices is also quite distinct from what you find in other parts of South India, and even here, it is possible to discern other influences. You've written about efforts to rekindle the Chettiars' entrepreneurial spirit. How far do you think this will go? Many Chettiars in the diaspora have moved into finance and IT, rather than traditional business. This shift worries some of the older generation, who feel there's a disconnect from their industrial legacy. So conferences and community events have been organised to revive that entrepreneurial zeal. But honestly, I think that time is over. The chapter of Chettiar dominance in traditional sectors is closed. ALSO READ: Book commemorates life and legacy of abstractionist Bimal Das Gupta
India Today
22-04-2025
- Politics
- India Today
How Bal Thackeray had blessed track II efforts to reunite Uddhav, Raj
Shiv Sena (Uddhav Balasaheb Thackeray) president Uddhav Thackeray and Maharashtra Navnirman Sena (MNS) chief Raj Thackeray have hinted they may smoke the peace pipe. In a podcast interaction, Raj said a patch-up with his older cousin may not be difficult. Uddhav has returned the favour by saying he was willing to set aside any differences between has led to hopes of the estranged Thackeray cousins coming together two decades after their political estrangement. Talk of a possible reconcilement have also revived memories of how Shiv Sena supremo Bal Thackeray had blessed a track II effort to create public pressure and ensure that the two cousins eventually patched and Raj are first cousins twice over—their father Bal and Shrikant are brothers and mothers Sarla aka Meenatai and Kundatai aka Madhuwanti are sisters. Raj, who was the president of the Bharatiya Vidyarthi Sena (BVS), the now-defunct student wing of the undivided Shiv Sena, was seen as his uncle's political successor. However, he had to gradually make way for Uddhav in the party, and eventually quit it in 2005 to form the MNS the next 2009, just three years after his party was launched, the MNS put up 11 candidates during the Lok Sabha elections in Maharashtra, and supported an Independent in Aurangabad. The anti-Hindi-speaking migrant campaign launched by the party saw it get a groundswell of support from Marathi voters and even sections of Gujaratis, Marwaris and Jains in Mumbai and the nearby Eventually, the MNS failed to win a single seat, but the presence of party candidates in the fray ensured that Shiv Sena and BJP nominees lost on nine seats. In the subsequent assembly polls, the MNS got 13 seats and was blamed for the defeat of BJP and Shiv Sena candidates in 66 constituencies. It helped the Congress and Nationalist Congress Party (NCP) secure a third term in the performance of the MNS in the Lok Sabha and assembly polls in Maharashtra in 2009, the sentiment among the core voters of the party and the Shiv Sena (UBT) grew for the two cousins to unite. It was felt that their rift divided the pro-Marathi votes in Mumbai and nearby areas, and helped the Congress and was at this time that Satish Valanju, a veteran Shiv Sainik and entrepreneur, and six of his friends had launched the initiative 'Majhi Chalval' (My movement) on May 16, 2010. The day was Akshay Tritiya. The idea was to create public pressure for the unification of Uddhav and about the initiative got around and on May 14, 2010, Valanju was invited to a talk show on a Marathi news channel. Valanju, who knew Thackeray Senior closely and even handled the pest control at 'Matoshree', the Thackeray family residence at Kalanagar in Bandra (East) in Mumbai, called him up and asked him to watch it. Thackeray watched the show and rang up Valanju the next day to 'bless' the Chalval' organised a series of public meetings in Mumbai, Pune, Nashik and Thane to generate a public push for Raj and Uddhav to unite. A photograph popularised by the group had Bal Thackeray at the centre with his arms around the shoulders of Uddhav and Raj. 'I want to see this picture again,' read the was scheduled to fly to Australia when Ravi Mhatre, who was Thackeray's close aide and personal assistant, rang him to ask him to keep his mobile phone turned on just in case Bal Thackeray wanted to contact him. In a public meeting at Damodar Hall at Parel in Mumbai, Valanju attacked senior Shiv Sena leaders Manohar Joshi and Sanjay Raut and was chastised by Thackeray, who asked if he was trying to break or mend Valanju recalled later: 'I promised him I would not say anything that could mar the prospects of Raj and Uddhav's unification. Saheb was very pleased at the initiative. He wanted this to happen.'advertisementOn September 5, 2010, 'Majhi Chalval' organised a silent march with around 10,000 participants. Launched from the site of Meenatai's bust at Shivaji Park in Dadar (West), it wound its way to Raj's house located a stone's throw away, and later to Matoshree. Raj, however, did not meet the protesters to accept their bouquet and memorandum, which sought that the cousins unite respecting the sentiments of the people. At Matoshree, Uddhav met them and though he did not accept the letter, he took the on January 23, 2011, which was Bal Thackeray's birthday, 'Majhi Chalval' was dissolved. Though the movement failed to bring the Thackeray cousins together, Valanju admits they had succeeded in bringing these issues into the mainstream public discourse.'This is for the first time that Raj's overtures have met with a warm response This is a positive sign,' said Valanju, when asked about the latest reunification to India Today MagazineMust Watch
