6 January 2015,New Delhi. The Prime Minister, Shri Narendra Modi, paid tribute to Jamsetji Nusserwanji Tata,the pioneer of India’s industrialisation and the Founder of the Tata group on his 175th birth anniversary , the Prime Minister of India, Mr. Narendra Modi, today released a commemorative coin, issued by the Government of India, at a special ceremony in New Delhi, in the presence of the Minister of State (Finance), Mr. Jayant Sinha, the Chairman of Tata Sons, Mr. Cyrus P. Mistry, senior functionaries of the Government of India and leaders of Tata companies.He praised Jamsetji Tata for his vision of environment friendly energy, and for his initiatives for welfare of the people associated with the Tata Group saying that those who create history, without seeking or holding power, are truly great.
The Prime Minister said that the culture of businessmen donating massive amounts in charity was new to the western world, but Jamsetji Tata had done the same long ago.
The Prime Minister also referred to the meeting between Swami Vivekananda and Jamsetji Tata, on board a ship from Japan to Canada in 1893. He said the two great men — one an ascetic and the other an industrialist — shared the same wavelength, and had a common vision for a self-reliant India.
The Prime Minister said it was a privilege for him to be releasing a commemorative coin in honour of Jamsetji Tata.
Speaking on the occasion, Mr. Cyrus P. Mistry said, “Jamsetji’s focus was two-pronged, each equally important and interconnected. The first was the industrialisation of the country, and building the requisite human capital. The second was conducting business in a fashion that positively impacted the quality of lives of the people it touched. For Jamsetji Tata, the community was not just another stakeholder in business, but in fact the very purpose of its existence. We feel privileged and honoured by this gesture of the Prime Minister and the Government of India to commemorate the 175th birth anniversary of our Founder.”
Minted by the India Government Mint, Kolkata, two coins have been issued — a Rs100 limited edition commemorative coin and a Rs5 coin to be used as currency.The Prime Minister said it was a privilege for him to be releasing a commemorative coin in honour of Jamsetji Tata.
Jamsetji Tata founded the Tata group in 1868. His vision was to build an India that would be an industrial power in its own right, with its own steel plants, power plants and world-class universities. The translation of his vision led to the creation of India’s first integrated steel plant (Tata Steel’s Jamshedpur plant – 1907), hydroelectric power plants that service Mumbai’s needs till today (Tata Power’s Khopoli plant – 1910), and the Indian Institute of Science (1909). Similarly, as a result of his belief that business is sustainable only when it serves a larger societal purpose, the Tata group introduced benefits, several of these much before they became law, like pension and gratuity (1877), workers’ provident fund scheme (1901), eight-hour working day (1912), free medical aid (1915), schooling facilities for children (1917), and maternity benefits (1921).