Tryst with Prosperity: Indian Business and the Bombay Plan of 1944

The story of Indian business remains incomplete without the Bombay Plan The Tryst with Prosperity is the story of the Bombay Plan which was initiated in 1944. Eight remarkable individuals from the world of industry, like J.R.D. Tata, Lala Shri Ram and G.D. Birla, came together and drafted this plan. The Bombay Plan, an economic blueprint, promised to double India’s per capita income in fifteen years; envisaged a 130 per cent rise in agriculture output; a 500 per cent increase in manufacturing; and a minimum standard of living for every individual. This plan held out the promise of partnership between the Indian state and private enterprise. Yet, ironically, a decade later, these captains of industry fell out with the Nehruvian establishment. Nonetheless, the indelible imprint of the Bombay Plan was manifest in the national Five Year Plans and in the economic trajectory of India. Seventy-five years later, the Bombay Plan’s legacy continues to be unmistakable in the economic life of contemporary India. Rivetingly told, business historian Medha M. Kudaisya, narrates an important chapter from the story of Indian business.