GIPE-PUNE-OIIOI2 - DSpace@GIPE

RATIONALIZATION IN INDIAN BUSINESS ENTERPRISE 247
'Occasions in regard to Indian cotton and British coal~
We encounter here, indeed, the universal phraseology
·of rationalization which is applicable no matter what the
,economic region or the line of industry. The •• new
industrial revolution" has been manifesting itself in the
.$elf-same manner in all countries, adult or young, and
,in the most diverse branches of economic enterprise.
It is interesting to watch how in India the younger
power, oil, is already perhaps adequately rationalized but
the older power, coal, has just commenced mastering the
.alphabet of rationalization. In regard to the youngest
power resource, namely, hydroelectricity, India has
.something no less interesting to offer to students of
industiral organization, finance and technique. The
present developments and future prospects of Indian
hydroelectric works' are intimately bound up with ration­
.alization. Hydroelectricity, like everything else on
. earth , has to be delivered cheap, if it is to be delivered
.at all. And in this regard the economics of the lowest
possible supply-prices present us not only with the wellknown
phenomenon of mass-manufacture or large scale
.production such as is calculated to bring overhead charges
-down and assure economies of all sorts but chiefly with
another phenomenon that is prominent in trust-organizations
and which we have noticed in the T ata Iron and
Steel Co. and the B. O. C., namely, the command over or
.control of markets in regard to its own goods. The markets
for. hydroelectricity are naturally to be found in the lighting
arrangements for town~ and villages, industries and
transportation systems, irrigation works, etc. Unless
these 'facilities are available and adequate and unless the
hydroelectric works can count upon such customers as