From the archives

摘要

The question of establishing an automobile factory in India is .just a part of the general scheme of industrialising the country, and, if it is agreed that the development of all the available material resources of this great sub-continent is desirable and necessary for the promotion of the prosperity and the well-being of the Empire, it is inconceivable why the modest proposals for the inauguration of a motor factory in Bombay were discouraged. It will be remembered that in connection with framing the outline of the project, Sir M. Visvesvaraya had investigated the possibilities of this new venture in all its detail, by visiting a large number of automobile factories in Europe and America, and by consulting with their directors and technical experts. The report that he prepared after exhaustive enquiry, revealed the fact that practically all the experts consulted favoured the project, by offering active support and co-operation. It was a grave misfortune that, while the report was being sympathetically considered by the promoiers of the scheme, they appear to have been suddenly seized with a spirit of pessimism in respect of the success of the proposals formulated in the report, and that they were almost inclined to believe the misleading doctrine that India would do better to buy foreign motor vehicles than build them in her own factories. The establishment of a large industry, such as the one Sir M. Visvesvaraya was contemplating, must necessarily affect vested interests and must even provoke a certain measure of hostility, but what is puzzling is that the hard-headed business men, who take a practical and a long-range view of industrial concerns, should succumb to the blandishments of false and futile economic philosophy. In 1936, efforts were made to enlist the sympathy and the active support of the Government of Bombay and the Government of India. The Government' of India were profuse in their sympathy, but adhered to the policy of discriminating protection for Indian industries; enunciated by the Fiscal Commission of 1921-22 and in pursuance of this policy the Imperial Government could offer no assistance to 'an industry that was not started' and could therefore make no promise for the purchase of its products. The Congress Ministry, then in power in Bombay, however, offered provisionally a guarantee of 3 or 3.5 per cent interest on a capital issue of Rs 150 lakhs for the industry for a period of ten years. Before the concession could be finally sanctioned, the Congress Government went out of office....