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RATIONALIZATION IN INDIAN BUSINESS ENTERPRISE 255r·
guidance of some directors such as possess the technical.
and administrative experience of competitive concerns in.
Eur~America and JaE.an. What is really wanting in
India to~day in order to consummate the rationalization
of the various factors in chemical industry is nothing but.
the T ata concepion of industrial finance.
The establishment of subsidiary or associated .
industries as an element in economy, competitive cost.
world~marketability etc., has been well assimilated by the.
inheritors of Tata's good will and genius, Tata Sons Ltd.
They have not only made good use of the existing indus·
trial environment with reference to their hydroelectric
enterprises but they have at the same time been conscious.
ly pioneering new industrial concerns as markets for
themselves. Besides, they have been systematically at
work also in order to establish a milieu of mechanical
and engineering industries with the Iron and Steel Co. as·
centre. The utilization of steel is being accomplished in
their very zone in engineering works directly. or .indirectly
connected with T ata finance. Not the least interesting:.
item in .connection with the establishment of auxi.
liary industries in the J amshedpur sphere is to be found.
in the participation of this iron~steel complex with the.
B. O. C. for the establishment of a tinplate factory. In
. this co~operation between an Indian and a non~Indian trust
we have but another specimen 9f rationalization in con:-·
t~mporary world~economy on Indian . soil. 24
The.establishment of the Federal Farm Board in the.
U. S. A. by President Hoover"in 1929 has been directing.
24 Rep. Ind, Tar. Board regarding t.he. contin~an!,e of Protection to the-·
Steel Industry (Calcutta. 1927) pp. 105. 157.