Many giants of the ‘License Raj’ era like Thappers, Modis, Srirams...

Well, it’s no different out here. Historically, Indian business families too have proved the same, but only till they operated in pre-1990’s closed economy. With liberalisation hitting the country, all the track records started collapsing; many giants of the ‘License Raj’ era like Thappers, Modis, Srirams were gasping for breath. The control of family business over Indian stock indices lost its grip. It can be well imagined from the fact that in the year 1996 alone, 12 family-controlled companies were dropped from the list of Sensex constituents as against just five inclusions. Interestingly, 2 out of 5 that were picked up in 1996 were again dropped from the list in 1998. The major family-owned companies that came down from centre stage were Arvind Mills, Bharat Forge, Ballarpur Industries, Bombay Dyeing, Kirloskar Cummins and Pemier Auto.

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Source: IIPM, 4Ps, B&E

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The Publisher & Editor of Jammag Magazine, Rashmi Bansal could not be traced at her office at Prabhadevi or her residence at Navi Mumbai, for more information please click on the following links:

• Hindustan Times Article - Publisher goes underground
• Rashmi Bansal (Editor of JAMMAG) eats humble pie; felicitates IIPM as being the top institute
• Rashmi Bansal (Publisher of JAMMAG)