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‘Delighted to be part of turning history upside down’: Anand Mahindra shares interesting thread on East India Company

“…Something energizing about seeing THIS Company in Indian hands…," Anand Mahindra wrote while sharing Jaspreet Bindra's thread on EIC.

Anand Mahindra, East India Company, colonialism, twitter, East India Company bought by Indian, viral thread, indian expressThe Mahindra Group chairman said they were “delighted to be part of turning history upside down”

Business tycoon Anand Mahindra relished some moments online as technology expert Jaspreet Bindra recounted how Mahindra Group bought a stake in the East India Company (EIC). The Mahindra Group chairman said they were “delighted to be part of turning history upside down”.

“…Something energizing about seeing THIS Company in Indian hands…,” he wrote while sharing Bindra’s thread on EIC.

In eight tweets, Bindra encapsulated how EIC came to Indian hands as he mentioned his meeting with Sanjiv Mehta, Chairman and Managing Director of the company.

He tweeted, “Yesterday, I had one of my most interesting visits and meetings, with the owner of the #company that virtually created #capitalism !!”

Tracing the beginnings of EIC, Bindra tweeted, “@TheEastIndia Company (EIC) was an English, and later British, joint-stock company founded in 1600. It was formed to trade in the Indian Ocean region, initially with the East Indies (the Indian subcontinent and Southeast Asia), and later with Qing China.”

“The company seized control of large parts of the Indian subcontinent, colonized parts of Southeast Asia and Hong Kong after the First Opium War, and maintained trading posts and colonies in the Persian Gulf. The rest, as they say, is history,” Bindra said in another tweet.

“The EIC which colonized India was bought by Sanjiv Mehta ‘from 30 to 40 owners’ in 2000s. Cut to early 2000, when Indian business @SanjivMehta1600 actually bought out the East India Company ‘from 30 to 40 owners’, in a burst of patriotic fervor, and has built it up into a luxury business selling teas, coffees, chocolates, other fine foods and #gin!” tweeted Bindra.

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“In 2013, famously, the @MahindraRise and @anandmahindra bought a minority stake in the East India Company, bringing two iconic companies together!”

As per the East India Company website, Sanjiv Mehta became the owner of the company after buying a major stake for a whopping $15 million in 2010 from around 40 stakeholders. “When I took over, my objective was to understand its history. I took a sabbatical from all other businesses and this became the single purpose in my life,” the EIC website quoted the Mumbai-born entrepreneur Mehta as saying.

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In 2013, Mahindra Group bought a minority stake in the EIC, owned by Mehta. The EIC website quoted Mahindra as saying: “The East India Company was the world’s first truly global brand spanning continents and centuries, and had a profound impact on the development of international trade. This immense vision and scope find a parallel with Mahindra’s own global aspirations to think beyond its size.”

First published on: 09-02-2022 at 18:18 IST
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