Work of late Seth Walchand Hirachand -2

  • Print

--------- Article by Seth Lalchand Hirachand continued...

After the war, in 1947 gradual manufacturing of components was started and in five or six years it reached the enviable stage of more than ninety-per cent indigenous content. The then leading foreign automobile companies, who were merely assembling cars from imported components but called themselves manufacturers, closed down one by one as they thought that the manufacture of components was not economical due to so small volume of business. Walchand pursued with determination his object of improving the economic condition of the country for which he established successfully the Automobile industry - both car and the commercial vehicle. In due course; more than 99% of the components were manufactured in the country and the quality of the vehicles was considered good.

Walchand started his business career as a contractor to build the Barsi Light Railway's bridge at Pandharpur in partnership with the late Shri Laxmanrao Phatak. However, soon they separated due to differences and the company came to him by settlement. Contractor's business in those days was called 'Thekedari' - a very small scale business. However, he developed it by doing major works like construction of tunnels, dams, barraws, bridges etc - small and big - through his newly established company named Hindustan Construction Co. Ltd

This company today handles business of nearly a hundred crores of rupees a year. All big jobs were handled; by foreigners before he came into this line. He upgraded the small ‘Thekedary' business into a major construction industry without dislodging the small contractors. This was the contribution to the economic development of the country for which he took big risks, often suffered heavy losses; but he ultimately succeeded with his determination, foresight and sustained effort. All his work was based on that Patriotic Motto of Indian Capital, Indian Labour, Indian, Management.

Seth Lalchand Hirachand - Premier of Walchand group of Indus-tries and a long time chairman of. Administrative council of institute.