The 1930s: Failure in Export-Oriented Development and Conservative Attitudes Towards Further Expansion

Abstract

The previous chapters have showed how the Tata Iron and Steel Company (TISCO) made every attempt to resolve the nagging problem of low labour productivity from the 1910s on, the most important of which were institutional reforms and internal financing during the 1910s and switching to a direct labour management system during the 1920s, all enabling TISCO to raise labour productivity and competitiveness on the domestic market beginning in the mid-1920s, as shown by the total factor productivity (TFP) figures in Table 1.1.