Prime Minister Nehru once described India as "a bundle of the centuries in which the cow and the tractor march together." Indian business suffers from, and sometimes profits by, such intermingling. Among those who are mastering the combination is canny Arvind Mafatlal, who at 40 is chairman of a $61.9 million family-controlled business that is spreading out from the mills of India's traditional cotton industry into modern petrochemicals.
Mafatlal's jute plant and ten textile mills employ 25,000 Indians, produce 4% of India's cloth, and specialize in the low-cost cottons that make up the traditional dress of most Indians....
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