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The Reserve Bank of India entered its 90th year on 1 April. From the 1940s to 1960s it was critical in protecting India’s interests at the Bretton Woods Conference in 1944, and conserving India’s Forex by managing a Rupee trade with the East Bloc. Today, it is among Mumbai’s several historic financial institutions and has navigated India’s economy through turbulent geopolitical and geoeconomic events.
Courtesy: ANI
On a recent visit to Tanzania, India’s External Affairs Minister S. Jaishankar announced the establishment of the first overseas campus of the premier Indian Institute of Technology Madras on its islands of Zanzibar in Africa. The choice of Zanzibar is significant: 180 years ago, it was the very first interface between Indian merchants and the East African mainland.
Courtesy: Rasool Abassi/Wikimedia Commons
The 18th century wave of Armenian immigrants to India were at the forefront of reinforcing a national identity for the Armenian people who lived dispersed across the world and without an independent country. The English colonial city of Madras was an important Armenian trading hub soon became home to an Armenian liberation movement
Courtesy: Instagram
The old world order and the manners and values that went with it, have come to an end. Many of its aspects and aesthetics are outdated, but some remain – like the word ‘pukka’ which implies a certain sensibility, now with a new interpretation. Will its meaning hold in the new world order that has yet to emerge?
Courtesy: Twitter : Narendra Modi
Indians are the largest expatriate community in the United Arab Emirates (UAE). Their contribution to building that nation is being celebrated this year, which is also the UAE’s golden jubilee year. Cultural fluency built on centuries-old trade and migration makes it easier for Indians and Gulf Arabs to collaborate.
Courtesy: Mint
On February 18, India and the United Arab Emirates (UAE) signed the Comprehensive Economic Partnership Agreement (CEPA). This is a modern trade agreement with its roots in the erstwhile Bombay Presidency’s administration of the nine Emirati kingdoms.
Courtesy: National Army Museum
In the seventeenth century, the British established a monopoly on the opium trade to China. Bombay, a deep-sea port, emerged as a significant opium export hub for Indian and European traders alike. In this podcast, Sifra Lentin traces the events that led to the Opium Wars.
Courtesy: BNP Paribas
The Anglo-French commercial treaty of 1860 opened trade between France and Bombay, and brought two iconic French companies – a shipping line and the city’s first European bank. Bombay’s affluent residents were already familiar with French fashion, luxury goods, wines and liqueurs.
Courtesy: Wikimedia Commons
Three hundred years ago, the Anglo-French rivalry in Europe spilled over to India, and threatened the dissolution of the powerful Bombay Presidency. Three centuries later, India and France are in a different place, with economic ties blossoming and the bilateral upgrading in 1998 into a strategic relationship. The speed with which this has scaled up reflects the deep familiarity between the two nations rooted in colonial history.
Courtesy: Bombay 100 Years Ago
The Imperial Bank of India completed a hundred years in 2021. This Bombay Presidency institution is the precursor of the State Bank of India, which was a retail bank but also performed central bank duties. In this podcast, Sifra Lentin discusses the legacy of what was once the Indian subcontinent's oldest, largest bank.