India: Schoolboys Come of Age

When the Kings of England were also Emperors of India, Hindus in business had to be content with second-class corporate status. They could make comfortable fortunes—and many families did—exporting jute, tea and other products, and importing British goods. But, because Britons dominated the field, the Indians were mostly shut out of top manufacturing jobs.

Since their country achieved independence 19 years ago, however, Indian businessmen have been emerging on their own. And to an ever increasing degree, the subcontinent is becoming dominated by a group of young Indian executives who were schoolboys when the Empire crumbled.

"The older generation only knew...

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