A Commemorative Coin Released In Honour of Jamsetji Tata

Jamsetji Tata

Jamsetji TataPrime Minister Narendra Modi released a commemorative coin to honour Tata Group founder Jamsetji Tata on his 175th birth anniversary, on January 6. So far, the Government of India has minted coins in honour of the freedom struggle, temples, events, institutions, organisations, freedom-fighters and scientists. It is for the first time the Government has felicitated an industrialist in this way. Thus, Jamsetji has become the first industrialist in the country to be honoured with a coin in his name. The objective is to make Indian businesses more encouraging and fruitful for Narendra Modi’s “Make in India” campaign.

Postal stamps in the name of Jamsetji

In 1958 and 1965, the Government had felicitated Jamsetji by releasing postal stamps. In 1958, postal stamps in his name were released to celebrate 50 years of steel industry in India. In 1965, the Government again released stamps in recognition of Jamsetji’s contribution to the industrialisation of the country.

About the coin

This coin would be collector’s item. It would be made of silver in the set of Rs 100 and Rs 5 coins. These coins would depict the bust of Jamsetji and are fabricated by the Kolkata mint of the Security Printing and Minting Corporation of India. The price of the coins would be Rs 4,500 each. Initially, the Government has asked only a dozen sets of coins to be minted which would be presented to the dignitaries.

Coins commemorated earlier

According to the Coinage Act, 2011, a commemorative coin is released by the authority to mark an occasion or event. It is expressed in Indian currency and stamped as per the event or the personality on whom it is released. Some prominent personalities on who coins have been commemorated earlier are:

  • Rajendra Prasad: First President of India
  • Jawaharlal Nehru: First Prime Minister of India
  • Lal Bahadur Shastri: Former Prime Minister
  • Rajiv Gandhi: Former Prime Minister
  • Canjeevaram Natarajan Annadurai: Former Tami Nadu CM
  • Homi Bhaba: Father of India’s nuclear programme
  • Chidambaram Subramaniam: Former Union Minister
  • Mother Teresa: Nobel laureate
  • Rabindranath Tagore: Nobel laureate
  • Bhagat Singh: Freedom-fighter
  • Bal Gangadhar Tilak: Freedom-fighter
  • Louis Braille: Inventor of Braille and only non-Indian to be commemorated

About Jamsetji Tata

Born on March 3, 1839 in a small town in south Gujarat, Jamsetji founded the Tata group. This is India’s biggest conglomerate company even today. In 1907, Tata Steel’s Jamshedpur plant was created, which is India’s first integrated steel plant. In 1910, Tata Power’s Khopoli plant was established, the hydro-electric power plant that serves Mumbai even today. In 1909, the Indian Institute of Science, the reputed Indian institution for research and education in Science and Engineering, was set up. From 1880 till his death in 1904, he played a major role in making our country proud by setting up industries and paving the way for his successors to realise his dreams.

Why Jamsetji?

The Modi Government chose Jamsetji Nusserwanji Tata because he is considered as the “father of Indian industry” in the true sense of the word. He was the person who created Asia’s first integrated steel company. This was formed in a period when there was a hostile investment environment of a colonised India. Also the Government wants to encourage more and more Indian businesses through this honour.

The Prime Minister while paying tribute to Jamsetji said that the people who create history by working for the country without seeking or holding power, are the true great people and Jamsetji was one among them. He praised Tata for his vision of creating an environment-friendly energy, and for his efforts for the welfare of the people associated with the Tata Group. He said that it was a privilege for him to honour this great man and releasing a commemorative coin in his name.

Gracing the occasion was also Cyrus P Mistry, Chairman of Tata Sons, who said that the focus given by Jamsetji was of two-fold, both of which were equally interconnected and important. His first focus was on the industrialisation of India and building the necessary human capital. His second focus was on conducting business in a manner that had a positive impact on the quality of lives of the people who worked with him.