Tuesday, April 4, 2017

Narottam Morarjee 1977 India Stamp

Narottam Morarjee  was an eminent  Indian businessperson  with major interests in shipping and textiles.

Narottam Morarjee was born on 2 April 1877 at Porbandar. His father Seth Morarjee Goculdas was a pioneering textile magnate. He studied at Elphinstone College. He started managing two mills- Morarjee Goculdas Mill of Bombay and Sholapur Mill of Sholapurwhile studying.

Narottam Morarjee later came into close contact with Mahatma Gandhi, Dr, Annie Besant, Dadabhai Naoroji, Rabindranath Tagore, Sarojini Naidu and Motilal Nehru.

Narottam Morarjee joined hands with other  Gujarati  businessmen, Walchand Hirachandand Kilachand Devchand to finance and establish The Scindia Steam Navigation Company Ltd., which was founded on 27 March 1919.

On 5 April 1919, Scindia's first ship s.s. Loyalty  sailed from Bombay to the United Kingdom and unfurled the flag of Indian shipping in international waters.

Narottam Morarjee died on 5 November 1929. Walchand Hirachand, ran some of his ventures till a year before his death in 1953. Narottam Morarjee's son Shantikumar filled in posts of his father.

The group was indebted with liabilities and ultimately, Morarjee Goculdas Mill was taken over by Seth Piramal Chaturbhuj, patriarch of the Piramal family. While, after death of Walchand in 1953, the Scindia Shipping was completely taken over by Narottam Morajee group but shipping business, could not survive the changes and stopped doing business in 1980s. Scindia Shipyard, a subsidiary of Scindia Steamship, in which Narottam Morajee, Walchand & Kilachands had stakes was nationalized by government in 1961.

Government of India, established under the joint auspices of the Government of India and Indian Shipping Industry at Mumbai for Diploma courses in Shipping Management, which has been named Narottam Morarjee Institute of Shipping, after him.

The Department of Posts honored him by releasing a commemorative postage stamp on  his centenary celebration.

Issued Date : 02.04.1977
Denomination : 25 Paise

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