Hindu Businessmen and the Use of the Joint Stock Company in British India

Anantdeep Singh
Ronin Institute

Abstract

Hindu joint family businesses play a major role in contemporary India. The increasing usage of joint stock companies did not lead to the replacement of the Hindu joint family businesses; instead, Hindu businessmen made the joint stock company into an appendage of the joint family business. This was accomplished through another institution, the managing agency. This paper will look at the relationship between the joint stock company, the Hindu joint family business, and the managing agency, and shed light on the adoption of joint stock companies by Hindu businessmen. Our discussion will be supported by case studies of Hindu business families.

Presentation