Hard times

The post-war era was a lull period for the iron and steel industry all over the world, and the Tatas, too, were caught in the world- wide slump. But, in the curtailed supplies of imported steel during this period, the far- sighted Dorabji saw India’s only opportunity to end foreign dependence and acquire its own steel capability. Despite the escalating costs, he convinced Charles Perin to extend his support in his Great Extensions Programme. Dorabji dreamed of raising the standards of living in the country by multiplying production and lowering costs.

The plan was doomed from the very beginning and the situation got to such an extent that a Government take over was evident. But the trust people had on the Tatas sailed them through in their worst phase too. Not even a single worker was retrenched and all debts were repaid. The family forfeited its commission as managing agents and Dorabji staked his entire personal assets worth a crore of rupees to continue the expansion programme and put the enterprise back on the rails.