Tata iron and steel company (TISCO) limited is one of the leading iron and steel producer in India. Write a brief note on history of this company.
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Answer:
Tata Iron and Steel Company (TISCO) was founded by Jamsetji Nusserwanji Tata and established by Sir Dorabji Tata on 26 August 1907. TISCO started pig iron production in 1911 and began producing steel in 1912 as a branch of Jamsetji's Tata Group.[10][11][12] The first steel ingot was manufactured on 16 February 1912. During the First World War (1914–1918), the company made rapid progress.
In 1920, The Tata Iron & Steel Company also incorporated The Tinplate Company of India Ltd (TCIL), as a joint venture with then Burmah Shell to manufacture Tinplate. TCIL is now Tata Tinplate and holds 70% market share in India.
By 1939, it operated the largest steel plant in the British Empire. The company launched a major modernisation and expansion program in 1951. Later, in 1958, the program was upgraded to 2 million metric tonnes per annum (MTPA) project.[10] By 1970, the company employed around 40,000 people at Jamshedpur, and a further 20,000 in the neighbouring coal mines.
Nationalisation attempts
There were two attempts one in 1971 and another in 1979, nationalise the company. Both were unsuccessful attempts. In 1971 Indira Gandhi regime tried to nationalise the company, but failed. In 1979 Janata Party regime (1977–79), wanted to nationalise TISCO (now Tata Steel). Then Minister for Industries George Fernandes, at the instigation of Biju Patnaik, Minister for Steel threatened nationalisation, but due to the unions protests the move failed.
In 1990, the company began to expand, and established its subsidiary, Tata Inc., in New York. The company changed its name from TISCO to Tata Steel Ltd. in 2005.
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