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War and Nationalism, 1939–47

In: Merchants of the Raj

Author

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  • Stephanie Jones

Abstract

By the mid-1940s, the impact upon the British Managing Agency Houses of the impending political changes in India was clearly visible, in the form of lack of motivation, confidence and no fresh investment. In certain cases there was even a tendency to fold up completely, and pass on the business for maximum immediate benefit. In other cases, such as Jardine Henderson, new companies were formed to take over existing businesses on a revalued basis, and the expatriate promoters then offloaded the shares in the new companies at a high premium. This period was traumatic for most of the managing-agency houses, in which they reacted to the changes going on around them, rather than proactively seeking to pre-empt developments. Arguably, their heyday had already passed, although most did enjoy a resurgence with wartime demand for products and services. Some houses had started recruiting Indian covenanted staff before the War, but this was still rare. Few were anticipating the rising tide of nationalism.

Suggested Citation

  • Stephanie Jones, 1992. "War and Nationalism, 1939–47," Palgrave Macmillan Books, in: Merchants of the Raj, chapter 2, pages 79-102, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-349-12538-8_3
    DOI: 10.1007/978-1-349-12538-8_3
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