Amalendu Guha In an earlier article, "Parsi Seths as Entrepreneurs 1750-1850" (Review of Management, August 1970), the author had traced the growth of the Parsi business community over a period of 100 years. It was also shown that Parsi mercantile capital was ripe for industrial transformation and that an all- round development towards an indigenous navigation and shipbuilding industry was already witnessed in the second quarter of the 19th century. Thereafter this development process was choked off and distorted mainly because of the colonial constraints.