Past Imperfect Episode 31: Sudev Sheth on how to do business in Mughal India
Past Imperfect Episode 31 features Dinyar Patel, Associate Professor of History at SPJIMR, in conversation with Sudev Sheth, Senior Lecturer at the Lauder Institute, Wharton School, University of Pennsylvania, and the author of Bankrolling Empire: Family Fortunes and Political Transformation in Mughal India.
Sheth unearths the remarkable story of how one family, the Jhaveris of Ahmedabad, navigated business and politics under Mughal rule. As prominent diamond merchants, the Jhaveris prospered under the protection of the Mughals, becoming partners in empire. Once the Mughal Empire disintegrated, however, they faced enormous risks and opportunities: state violence but also new leverage in influencing politics. In a manner familiar to any contemporary Indian business tycoon, the Jhaveris had to cultivate diverse political ties while conducting their commercial activities, all while managing the delicate task of family succession. And they largely succeeded: the family, now known as the Lalbhais, remains in business today, some fourteen generations later.
