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Walchand Hirachand

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Walchand were grand in design, to say the least. While attention to detail in planning was not one of his strengths, he always seemed to know how to find his way around. This was true especially with respect to manpower management, meeting deadlines and raising funds. Most of his projects were highly leveraged. While he seemed to oppose nationalisation and government control of some of the projects he started such as the shipyard and the aircraft factory, the fact remains that these businesses may have had to face liquidation but for government investing the money. Also, it needs to be noted that the government also had a strong interest in the operation of these industries as it directly helped in its war efforts. Despite exercising management control in firms such as Scindia Steam Navigation Company Ltd., Hindustan Aircraft and Hindustan Shipyard, he was not the largest shareholder in any of these companies. He understood the power of mass media and cultivated it to gather public support for his projects; while this may appear to be easy in the politically charged days of the
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of foreign goods and Non co-operation movement. It barely managed to survive after entering into agreements on routes and fare wars with its foreign competitors. However, Walchand still supported new indigenous shipping ventures, as he believed that a strong domestic shipping industry was the need of
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Walchand was one of the founding members of the Maharashtra Chamber of Commerce, Industry & Agriculture, and served as its president for eleven consecutive years from 1927 to 1938. Walchand was also the founder of the Indian National Shipowners' Association, which was founded in 1929, and served
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While he was still studying, in 1900, he married Jiu Kilachand, daughter of a Solapur banker. From this marriage, he had a daughter named Chatur, but his wife died in childbirth. Later, in 1913, under family pressure, he married Kastur Mehta. From his second marriage, he had a boy and girl child but
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is today a strategic defence and nuclear equipments manufacturing company. Absence of direct male heirs may also have had a role in the nature of the businesses left behind by him. For Walchand, industry was probably not just a place to make money but also to have adventure. For example, a visit to
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Another company in sugar and confectionery, the Ravalgaon Sugar Farm, was started by Walchand in 1933 and its Confectionery Division was started in 1942. Today, Ravalgaon Sugar is one of the market leaders in the Indian confectionery market, which is managed professionally by independent Directors.
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It was in the construction business, first as a railway contractor and then as a contractor to other departments of Government, that Phatak-Walchand private limited (partnership till 1915) made money. Phatak left the firm after it bought a foundry and undertook a mining lease, with the view that it
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adequately. The reasons that prompted the government for nationalising were – it was a sensitive and strategic sector; Japan's advances in the war meant that the government needed fast responses and hence, direct ownership; and it could not allow a crucial war project to remain undercapitalised or
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and the Indian Sugar Syndicate. He served as President of Indian Mechants' Chamber for years 1927–28. Also, Walchand founded the Deccan Sugar Factories Association and the Deccan Sugar Technologists Association, and made hs younger brother, Lalchand, its first President, and he was also the force
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near Mumbai. Again in this venture his other partners were Dharamsey Mulraj Khatau and Tulsidas Kilachand, who were also Walchand's partners in Hindustan Aircraft. By 1948, the company started indigenisation in a small way with an in-house components department. The first car rolled out of his
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in Burma. All these projects were directed by Walchand. In 1929, he became the managing director of the company. In 1935, the company was renamed as Premier Construction to reflect the fact that the Tatas had sold their stake in the firm to Walchand. Another construction company he founded was
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Walchand was noted for his ambition and vision. Among his adversaries, the more charitable termed him a dreamer while the less charitable dismissed him as a person who wanted to run even before learning to walk. Despite not hailing from an established business house, the projects undertaken by
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to honour that voyage. While Walchand pioneered a role for India in several industries, his dependence on excessive leverage and nationalisation seem to have taken the sheen off his contributions. The car factory, while the first in India, trailed the Birlas' Hindustan Motors in terms of
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its chairman to look after its day-to-day affairs. Walchandnagar Industries is today a diversified company manufacturing also boilers, turbines and also supplies strategic components to India's defence and aerospace sector. WIL was subject to sanctions by the United States following
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Walchand matriculated in 1899 from Solapur Government High School and later attended St. Xaviers College, Mumbai, and earned a BA degree from the University of Mumbai. Later he attended Deccan College in Pune but discontinued his studies to join his family business.
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After spending a few years in his father's family business of banking and cotton trades, he realised he was not interested in the family business. He became a railway contractor for constructions in partnership with a former railway
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in 1908, which was started as a large-scale sugar farming firm but was later diversified into also making sugar refined spirits, sugar machinery, plastic goods, cement plant, paper and pulp plant, and water tubes. Walchand made
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To face competition in the shipping business from the British and other foreign businesses, Walchand entered allied businesses such as insurance. In 1937, he presided over the conference of Indian insurance companies held in
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in 1948. However, the shipyard came under government control a few months later (due to the presumed importance of the project to country's security and economic growth) and was fully nationalised in 1961 and was renamed
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the hour. In 1929, he became the Chairman of Scindia Steam and continued in the same position till 1950 when he resigned on grounds of ill health. By 1953, the company had captured 21% of Indian coastal traffic. Sir
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During his lifetime, he started several charitable trusts, to look after several and also establish new educational institutions, boarding house and carry on other philanthropic works and sponsorships, including:
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without a tangible result. However, for years to come, he would probably be remembered as the man who dared to dream and was able to materialise most of his dreams into reality by his steadfastness and willpower.
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along with other stalwarts of Indian industry and funded many of its activities. In 1930, various merchant bodies of Bombay under the presidency of Walchand passed a resolution for the immediate release of
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made its maiden international voyage on 5 April 1919 by sailing from Mumbai to London. Walchand Hirachand was personally present on the ship. After India became independent, 5 April has been declared the
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In 1949, he suffered a stroke, and he retired from business in 1950. He was looked after by his wife, Kasturbai, in his last years, who took him away to natural surroundings and the religious town of
140:, first aircraft factory and first car factory; he also established construction companies, sugarcane plantations, sugar factories, confectioneries, engineering companies and many other businesses. 691: 675: 764: 685: 214:, Laxmanrao Balwant Phatak; the partnership later became Phatak-Walchand private limited. Walchand proved to be a successful railway contractor but was open to other business ideas as well. 774:
A stone statue has been erected in junction near Eastern naval command and Hindustan shipyard limited in Visakhapatnam to commemorate his contribution towards Indian marine initiatives.
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His legacy remains important. By 1947, when India became independent, the Walchand group of companies was one of the ten largest business houses in the country. The first Indian ship
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was stretching itself into too many areas. Meanwhile, the firm found it difficult to bag larger contracts due to its small size and the absence of marquee names. It was merged into
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and demanded the protection of Indian industries. Again, in 1933, Walchand sent a deputation on behalf of the Indian Merchants' Chamber to Gandhi to persuade him to call off the
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In 1939, a chance acquaintance with an American aircraft company manager inspired him to start an aircraft factory in India. Hindustan Aircraft was started in Bangalore in the
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in the interest of trade and commerce. He was also a signatory to the Bombay Manifesto dated 26 May 1936, which opposed the socialist and Marxist ideas of Jawaharlal Nehru.
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and Tulsidas Kilachand. By April 1941, the then British Indian government acquired one-third of ownership and by April 1942, it nationalised the company by compensating
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Hirachand was engaged in cotton trading and money lending. Walchand's mother died a few days after his birth. Hirachand then married Sakhubai to whom his half-brothers
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Construction Company in 1920 to overcome these problems. Some of the major projects executed by the company include the commissioning of the tunnels through the
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Statue of Sri ValChand HeeraChand, Founder of Hindustan Aeronautics Limited, Bengaluru at HAL Old Airport Bus Stop, Suranjan Das Road, Bengaluru
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but could not get clearances and concessions from the Mysore government unlike in the case of the aircraft company. In 1945, he established
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Walchandnagar Industries – Brochure released by former President, APJ Abdul Kalam on 125th birth anniversary of Walchand Hirachand in 2007
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were strong in the shipping industry and most of the attempts by domestic players till then had failed. Walchand named his company
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behind institutions like the Association of Indian Automobile Manufacturers and the Automotive Research Association of India.
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Walchand also believed that there was a strong need for a shipyard in the country and started work on it in 1940 at
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PM's speech at the release of a Commemorative Postage Stamp honouring Seth Walchand Hirachand 23 November 2004.
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As Walchand Hirachand died without any heirs, his business is now run by descendants of his brothers like
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The Indian encyclopaedia: biographical, historical, religious, ...: Volume 2 by Subodh Kapoor, 2002
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for its involvement in India's nuclear and space programs. The sanctions were dropped in 2001.
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PM's speech at the release of a Commemorative Postage Stamp honouring Seth Walchand Hirachand
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He was survived by his wife Kastur and daughter Chatur, who was from his first marriage.
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as its president for 19 consecutive years from 1929 to 1948. He also helped launch the
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in 1926, which is today one of the civil and engineering construction giants of India.
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and most of his projects were inaugurated (including launching of new ships) by famous
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As early as 1939, Walchand was interested in establishing a car factory in India.
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on 21 June 1941, who was acting Congress President at that time. It was named
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Government of India issued a postage stamp honouring him on 23 November 2004.
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shipping company in the true sense of the term and was referred to widely in
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together were the first sponsors of the pioneering national news agency, the
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Stone Statue of Sri Walchand Hirachand on Group Captain Suranjan Das Road,
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India's New Capitalists: Caste, Business, and Industry in a Modern Nation
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India's Industrialists: Volume 1 by Margaret Herdeck, Gita Piramal, 1985.
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Dalit phobia: why do they hate us? by Chandra Bhan Prasad, 2006, pp 228
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founded in 1927. Walchand was among the early and active supporters of
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and competed with the foreign players. It was recognised as the first
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The Communist Party of India and India's Freedom Struggle, 1937–1947
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Logistics Management for International Business: Text and Cases
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Hollywood inspired him to construct a huge studio now known as
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and started manufacturing engines in India. By 1956, parts of
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was also working in the same direction. In 1940, he signed an
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Management 2008 Edition by Robert Kreitner, Mamata Mohapatra
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in India for which he was earlier in talks with the famous
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The Domestic Abroad: Diasporas in International Relations
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A hall is named after him as Walchand Hirachand Hall at
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demanded from Gandhi that they were not happy with the
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was amongst the later directors of Scindia Steamship.
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Walchand Hirachand: Man, His Times, and Achievements
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Changing Financial Landscapes in India and Indonesia
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Concept Publishing Company. pp. 98–. 2054:Indian founders of automobile manufacturers 1062: 988: 1778: 1764: 800:(Supplement). 30 December 1927. p. 5. 31: 1889:The Scindia Steam Navigation Company Ltd. 1741:Walchandnager Industries Limited: History 1697:Khānolakara, Gaṅgādhara Devarāva (1969). 1511:"Walchand College of Engineering, Sangli" 1384:"INSA – National Shipowners' Association" 949: 745:house at Mumbai in his memory and honour. 390:The Scindia Steam Navigation Company Ltd. 934: 790: 763: 714: 496:was launched soon after independence by 274: 2039:Founders of Indian schools and colleges 1924:Walchand College of Engineering, Sangli 1586:"Smt.Kasturbai Walchand College Sangli" 1232: 692:Smt. Kasturbai Walchand College, Sangli 676:Walchand Dale Carnegie Finishing School 2016: 1751:Hindustan Construction Company Limited 1414:. PHI Learning Pvt. Ltd. p. 182. 1285: 304:and also the laying of tracks for the 136:. He established India's first modern 1759: 1014: 1012: 2079:Businesspeople in the sugar industry 1714:. Penguin Books India. p. 165. 1090:Latha Varadarajan (8 October 2010). 984: 982: 980: 967: 965: 963: 835: 833: 831: 829: 827: 686:Walchand College of Arts and Science 2134:20th-century Indian philanthropists 1233:Karelia, Gopi (18 September 2020). 921: 919: 917: 907: 905: 903: 901: 891: 889: 887: 885: 883: 881: 879: 877: 865: 863: 861: 859: 857: 855: 853: 851: 849: 847: 825: 823: 821: 819: 817: 815: 813: 811: 809: 807: 429: 363:, and Kilachand Devchand, bought a 13: 2074:Indian businesspeople in insurance 1785: 1009: 992:G.L. Mehta, a Many Splendoured Man 37:Hirachand on a 2004 stamp of India 14: 2145: 2034:Indian businesspeople in shipping 1729: 977: 960: 325:Sugar machinery and confectionery 204: 1998: 1997: 1919:Walchand Institute of Technology 1824:Walchandnagar Industries Limited 1736:Walchandnagar Industries Limited 1696: 1690: 1137: 1069:. 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Archived from 943: 928: 784: 751:, an industrial township near 688:, Solapur, established in 1962 609:, an industrial township near 557:Indian Sugar Mills Association 549: 530:factory in 1949, thus beating 508: 319:Hindustan Construction Company 1: 2069:Businesspeople in agriculture 1863:Mysore Petrochemicals Limited 1854:Hindustan Aeronautics Limited 1828:Ravalgaon Sugar Farms Limited 1208:"Testimony of Gary Milhollin" 1049:Gandhi and the Mass Movements 777: 457:Hindustan Aeronautics Limited 359:, he along with his friends, 143: 1885:Premier Construction Limited 1707: 1310: 1018: 971: 839: 462: 229:Indian independence movement 186: 7: 2114:Businesspeople from Gujarat 1870:Premier Automobiles Limited 1831:Indian Hume Pipe Co Limited 1668:"Indian Merchants' Chamber" 475: 350: 269:Civil Disobedience Movement 195: 156:Baniya family hailing from 10: 2150: 2094:Businesspeople in aviation 2084:Businesspeople from Mumbai 1866:Cooper Engineering Limited 1849:Hindustan Shipyard Limited 1616:"HND Pune Â» About Us" 1121:"Ravalgaon Sugar Farm Ltd" 950:Damodaran, Harish (2018). 503:Hindustan Shipyard Limited 355:In 1919, after the end of 2129:20th-century Indian Jains 2124:19th-century Indian Jains 1995: 1955: 1939: 1932: 1911: 1878: 1841: 1811: 1802: 1793: 1454:"Indian Merchant Chamber" 743:Indian Merchants' Chamber 582: 261:Indian Merchants' Chamber 217: 110: 102: 94: 71: 42: 30: 23: 1440:11 November 2013 at the 1286:Bharti, Sushant (2023). 1160:"The US Is Overreacting" 935:Schrader, Heiko (1997). 603:Walchandnagar Industries 563: 490:Scindia Shipyard Limited 331:Walchandnagar Industries 312:and a bridge across the 252:Indian National Congress 121:Walchand Hirachand Doshi 726:Walchand Hirachand Marg 448:Dharamsey Mulraj Khatau 132:and the founder of the 106:Chairman Walchand Group 1859:Oriental Insurance Co. 1708:Piramal, Gita (1999). 1540:Wdcfinishingschool.com 769: 724:is named after him as 705:Walchand Public School 694:, named after his wife 572:in Gujarat, away from 201:both died in infancy. 2104:Indian industrialists 1186:"Defense Contractors" 767: 715:Honours and monuments 594:National Maritime Day 275:Construction business 1978:Ratanchand Hirachand 1968:Gulabchand Hirachand 1515:Walchandsangli.ac.in 1063:Utpal Ghosh (1996). 1036:. 1996. p. 106. 1033:Frontline, Volume 13 989:Aparna Basu (2001). 640:Ratanchand Hirachand 632:Gulabchand Hirachand 605:Limited, located at 238:Walchand along with 2049:People from Solapur 1834:Acrow India Limited 1648:on 11 November 2013 1214:on 11 February 2011 939:. Lit. p. 130. 755:is named after him. 546:were locally made. 527:Premier Automobiles 306:Barsi Light Railway 248:Free Press of India 1983:Walchand Hirachand 1973:Lalchand Hirachand 1491:on 25 January 2013 1166:. 30 November 1998 1125:The Economic Times 797:The London Gazette 770: 636:Lalchand Hirachand 622:producer-director 424:Lallubhai Samaldas 25:Walchand Hirachand 2011: 2010: 1991: 1990: 1907: 1906: 1721:978-0-14-027187-4 1674:on 27 August 2012 1622:on 1 January 2012 1596:on 2 January 2016 1421:978-81-203-3792-3 1330:on 8 October 2011 1297:978-93-549-1673-1 1103:978-0-19-988987-7 1076:978-81-85777-29-0 1002:978-81-7022-891-2 672:, founded in 1947 361:Narottam Morarjee 329:Walchand founded 265:Gandhi–Irwin Pact 166:Bombay Presidency 164:in the erstwhile 118: 117: 61:Bombay Presidency 2141: 2001: 2000: 1937: 1936: 1809: 1808: 1780: 1773: 1766: 1757: 1756: 1725: 1711:Business Legends 1704: 1684: 1683: 1681: 1679: 1670:. Archived from 1664: 1658: 1657: 1655: 1653: 1644:. 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1686: 1685: 1659: 1633: 1607: 1577: 1552: 1527: 1502: 1470: 1445: 1427: 1420: 1400: 1375: 1350: 1341: 1315: 1303: 1296: 1278: 1266:Securities.com 1253: 1225: 1199: 1177: 1151: 1142: 1130: 1109: 1102: 1082: 1075: 1055: 1039: 1023: 1008: 1001: 976: 959: 942: 927: 913: 897: 873: 843: 803: 782: 781: 779: 776: 772: 771: 756: 746: 739: 736: 729: 716: 713: 712: 711: 702: 695: 689: 683: 673: 663: 647: 644: 584: 581: 565: 562: 551: 548: 510: 507: 477: 474: 464: 461: 431: 428: 401:'s columns in 399:Mahatma Gandhi 352: 349: 326: 323: 276: 273: 257:Mahatma Gandhi 219: 216: 206: 205:Early business 203: 197: 194: 188: 185: 145: 142: 134:Walchand group 116: 115: 112: 108: 107: 104: 100: 99: 96: 92: 91: 81: 79:(aged 70) 73: 69: 68: 55: 44: 40: 39: 36: 28: 27: 24: 15: 9: 6: 4: 3: 2: 2146: 2135: 2132: 2130: 2127: 2125: 2122: 2120: 2117: 2115: 2112: 2110: 2107: 2105: 2102: 2100: 2097: 2095: 2092: 2090: 2087: 2085: 2082: 2080: 2077: 2075: 2072: 2070: 2067: 2065: 2062: 2060: 2057: 2055: 2052: 2050: 2047: 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1282: 1267: 1263: 1257: 1242: 1241: 1236: 1229: 1213: 1209: 1203: 1187: 1181: 1165: 1164:Outlook India 1161: 1155: 1146: 1139: 1134: 1126: 1122: 1116: 1114: 1105: 1099: 1095: 1094: 1086: 1078: 1072: 1068: 1067: 1059: 1051: 1050: 1043: 1035: 1034: 1027: 1021:, pp. 281–283 1020: 1015: 1013: 1004: 998: 994: 993: 985: 983: 981: 973: 968: 966: 964: 955: 954: 946: 938: 931: 922: 920: 918: 908: 906: 904: 902: 892: 890: 888: 886: 884: 882: 880: 878: 871: 866: 864: 862: 860: 858: 856: 854: 852: 850: 848: 841: 836: 834: 832: 830: 828: 826: 824: 822: 820: 818: 816: 814: 812: 810: 808: 799: 798: 793: 787: 783: 775: 766: 761: 757: 754: 750: 749:Walchandnagar 747: 744: 740: 737: 734: 730: 727: 723: 719: 718: 710: 706: 703: 700: 696: 693: 690: 687: 684: 681: 677: 674: 671: 667: 664: 661: 657: 654: 653: 652: 643: 641: 637: 633: 628: 625: 621: 617: 612: 608: 607:Walchandnagar 604: 600: 595: 590: 580: 577: 575: 571: 561: 558: 547: 545: 541: 537: 533: 528: 524: 520: 516: 506: 504: 499: 495: 491: 487: 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R. Jayakar 241: 236: 234: 230: 226: 215: 213: 202: 193: 184: 182: 178: 174: 169: 167: 163: 159: 155: 151: 141: 139: 135: 131: 130:industrialist 126: 122: 113: 109: 105: 101: 97: 93: 88: 84: 74: 70: 66: 65:British India 62: 58: 45: 41: 34: 29: 22: 19: 2002: 1982: 1912:Institutions 1805:subsidiaries 1710: 1699: 1678:13 September 1676:. Retrieved 1672:the original 1662: 1650:. Retrieved 1646:the original 1636: 1624:. Retrieved 1620:the original 1610: 1598:. Retrieved 1594:the original 1590:Kwcsangli.in 1589: 1580: 1568:. Retrieved 1564: 1555: 1543:. Retrieved 1539: 1530: 1518:. Retrieved 1514: 1505: 1493:. Retrieved 1489:the original 1482: 1473: 1461:. Retrieved 1457: 1448: 1430: 1410: 1403: 1391:. Retrieved 1387: 1378: 1366:. Retrieved 1362: 1353: 1344: 1332:. Retrieved 1328:the original 1318: 1306: 1287: 1281: 1269:. Retrieved 1265: 1256: 1244:. Retrieved 1238: 1228: 1216:. Retrieved 1212:the original 1202: 1190:. Retrieved 1180: 1168:. 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Hachette. 870:Khānolakara 792:"No. 33343" 550:Public life 509:Car factory 404:Young India 385:BI Shipping 357:World War I 225:British Raj 183:were born. 150:Maharashtra 95:Nationality 2018:Categories 1458:Imcnet.org 1324:"About Us" 1246:20 January 778:References 731:A road in 720:A road in 589:SS Loyalty 369:SS Loyalty 341:Pokhran-II 336:Gulabchand 177:Ratanchand 173:Gulabchand 144:Early life 103:Occupation 49:1882-11-23 1626:26 August 1600:3 January 1570:3 January 1545:3 January 1495:27 August 1484:The Hindu 1463:3 January 1393:3 January 1368:3 January 1271:3 January 1218:8 January 1192:8 January 1188:. Fas.org 1170:8 January 974:, p. 170. 760:Bengaluru 680:Bellandur 620:Bollywood 463:Insurance 371:from the 187:Education 111:Relatives 2004:Category 1520:14 March 1438:Archived 1313:, p. 165 1140:, p. 657 570:Siddhpur 523:Chrysler 476:Shipyard 470:Calcutta 415:Swadeshi 395:Swadeshi 373:Scindias 351:Shipping 300:Lake to 196:Marriage 181:Lalchand 158:Wankaner 138:shipyard 83:Siddhpur 1940:Current 1879:Defunct 1812:Current 1388:Insa.in 1311:Piramal 1019:Piramal 972:Piramal 840:Piramal 733:Solapur 709:Sonipat 682:, India 662:, India 660:Solapur 544:chassis 494:Jalusha 419:boycott 410:Harijan 381:P&O 377:Gwalior 365:steamer 162:Solapur 89:, India 57:Solapur 1956:Former 1933:People 1842:Former 1718:  1418:  1294:  1100:  1073:  999:  722:Mumbai 670:Sangli 583:Legacy 574:Mumbai 367:, the 302:Mumbai 290:Mumbai 218:Career 98:Indian 658:, at 564:Death 532:Birla 521:with 440:Diwan 310:Indus 298:Tansa 212:clerk 1716:ISBN 1680:2012 1654:2012 1628:2012 1602:2016 1572:2016 1547:2016 1522:2019 1497:2013 1465:2016 1416:ISBN 1395:2016 1370:2016 1336:2011 1292:ISBN 1273:2016 1248:2024 1220:2012 1194:2012 1172:2012 1098:ISBN 1071:ISBN 997:ISBN 753:Pune 699:Pune 611:Pune 540:Fiat 407:and 383:and 294:Pune 286:Bhor 282:Tata 242:and 179:and 154:Jain 72:Died 43:Born 678:at 534:'s 519:MOU 413:on 375:of 292:to 125:CIE 2020:: 1588:. 1563:. 1538:. 1513:. 1481:. 1456:. 1386:. 1361:. 1264:. 1237:. 1162:. 1123:. 1112:^ 1011:^ 979:^ 962:^ 916:^ 900:^ 876:^ 846:^ 806:^ 794:. 762:. 707:, 668:, 638:, 634:, 601:. 505:. 472:. 459:. 442:, 417:, 175:, 168:. 85:, 63:, 59:, 1779:e 1772:t 1765:v 1724:. 1682:. 1656:. 1630:. 1604:. 1574:. 1549:. 1524:. 1499:. 1467:. 1424:. 1397:. 1372:. 1338:. 1300:. 1275:. 1250:. 1222:. 1196:. 1174:. 1127:. 1106:. 1079:. 1005:. 728:. 51:) 47:(

Index


Solapur
Bombay Presidency
British India
Siddhpur
Bombay State
CIE
industrialist
Walchand group
shipyard
Maharashtra
Jain
Wankaner
Solapur
Bombay Presidency
Gulabchand
Ratanchand
Lalchand
clerk
British Raj
Indian independence movement
freedom fighters
Annie Besant
M. R. Jayakar
Free Press of India
Indian National Congress
Mahatma Gandhi
Indian Merchants' Chamber
Gandhi–Irwin Pact
Civil Disobedience Movement

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