With reference to the report, "HMT slips into oblivion" (January 8), in its heyday the company manufactured a wide range of products - machine tools, tractors, printing machines, special purpose machines, dairy machines, ball bearings, horological (watch-making) machines and electric bulbs - but for the common man, HMT was synonymous with watches. Although imported watches were available back then too, people used to queue up in front of HMT's showroom in Mumbai to buy its latest models.
The credit for HMT's rise goes to S M Patil during whose tenure the company added various products and units across India. It was perhaps the only public sector undertaking (PSU) with a pan-India presence in those days. Its manufacturing units were located in places as varied as Bengaluru, Kalamassery, Hyderabad, Pinjore, Zainakote, Aurangabad and Assam.
Being among the respectable and profitable entities in the country, it was fascinating to read "1966 - Loss for the company" in the HMT's official list of milestones! Later, the government intervened in the appointment of its chairperson and managing director, prompting three stalwarts to quit the company. This apart, being a giant PSU, it could not adapt to changing times. I could ardently study the rise of HMT, for my father worked with the company - first in Bengaluru, then in Mumbai - for nearly two and half decades until 1986.
A correction regarding the report: Only HMT watches have slipped into oblivion; machine tools and tractor divisions of the company are still ticking.
G N Bhambore, Thane
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201
E-mail: letters@bsmail.in
All letters must have a postal address and telephone number
