2020-02-22 Sat

1854 was the year when Mumbai as well as India got its first mill called ‘Bombay Spinning Mill’ famous for producing Cotton textiles to be exported to Britain and the Day was 22nd February.

Prior to the middle of the nineteenth century, India used to export cotton to Britain and later re-imported the textile. While the year 1820 saw the total textile import valued at only Rs, 350,000; the prices escalated until in 1860 the textile imports reached Rs. 19.3 million.

Davar inaugurated India’s industrial revolution. In 1854, he set up India’s first steam-powered textile mill in Bombay. Capitalized at Rs 5 lakh, the Bombay Spinning and Weaving Company paid a 10 per cent dividend for six years straight. Davar set the stage for the safety of industrial capital in India.

It was on 22 February 1854 that Cowasji Nanabhai Davar opened the first Indian cotton mill “The Bombay Spinning Mill” with opposition from the Lancashire mill owners eventually combated by the support of the British manufacturers of textile machinery. Additionally, by 1870 there were 13 mills, exclusively in Bombay.

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