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Formal Indianisation and After, 1976–91

In: Merchants of the Raj

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  • Stephanie Jones

Abstract

Since the Foreign Exchange Regulations Act (FERA), all the managing agencies have undergone almost total change, but to a surprising extent, much evidence of the past remains. This is still apparent in the retention of the old names – such as Shaw Wallace, Jardine’s, McLeod, Gillanders, Balmer Lawrie, Warren, and Octavius Steel — by companies who now have few links with the founders who bore these names. The only relics of the old managing-agency houses which still have a degree of sterling ownership are Macneill & Magor, Warren’s and the Goodricke Group, and in two cases out of three these owners have substantially changed. The Assam Company, through its ownership by Inchcape, would have been a fourth example, until its sale to the Methas of Bermuda in mid-1991.

Suggested Citation

  • Stephanie Jones, 1992. "Formal Indianisation and After, 1976–91," Palgrave Macmillan Books, in: Merchants of the Raj, chapter 6, pages 309-358, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-12538-8_7
    DOI: 10.1007/978-1-349-12538-8_7
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