Business: Fifty Years of Tata

To New York last week came a distinguished Indian visitor seeking money. But unlike some visitors, this one wanted not a handout from the U.S. taxpayer but a private loan. Lean, handsome Jehangir Ratan Dadabhoy Tata, 53, chairman of Tata Enterprises, was looking for an additional $17.5 million of private financing for a 700,000-ton expansion of the Tata Iron & Steel Co. works at Jamshedpur, India. Topping a 500,000-ton addition under way, the expansion will raise steel output from 800,000 to 2,000,000 tons by late 1958, make the plant by far the largest...