Indian Institute of Science (IISc) Current Affairs

PM releases commemorative coins to honour late industrialist Jamsetji Tata

Prime Minister Narendra Modi has released commemorative coins to honour Tata Group founder Jamsetji Nusserwanji Tata.

PM released coins in the denomination of 100 and five rupee to mark Jamsetji Tata’s 175th birth anniversary.

Thus, Jamsetji will be the first industrialist in India to be felicitated by the government in such a manner.

He was chosen by the government because he is a legendary figure and the government wants to encourage Indian businesses through this initiative.

So far government has minted coins in honour of artists, freedom fighters, scientists, institutions and organisations.

Earlier, government had honoured Jamsetji twice by releasing his postal stamps one in 1958 and another in 1965.

Jamsetji Nusserwanji Tata

He was pioneer industrialist who had founded Tata Group- India’s biggest conglomerate company. He is regarded as Father of Indian Industry.

He was born on 3 March 1839 in Navsari then part of the princely state of Baroda (Now in Gujarat).

His successors’ work led to achieve:

  • Tata Steel: formerly known as Tata Iron and Steel Company Limited (TISCO ) is Asia’s first and India’s largest steel company. It is also world’s fifth largest steel company.
  • Indian Institute of Science (IISc): Located in Bengaluru, it is pre-eminent Indian institution for research and education in Science and Engineering.
  • Tata Hydroelectric Power Supply Company: later it was renamed Tata Power Company Limited, currently India’s largest private electricity company.

It should be also noted that present Jamshedpur district in Jharkhand is named after him. Earlier it was known as Sakchi.

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