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Correspondence

December 1961

Exchange with K.H. Hillel about Possibility of Investing in Bombay Factory (1961)

India

1. R. Lamm to K.H. Hillel

1. R. Lamm to K.H. Hillel (Dec. 27, 1961)

1. R. Lamm to K.H. Hillel (Dec. 27, 1961)

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Letter to Ellis Meyer about Possibility of Investing in Bombay Factory (1961)

Dear Ellis: I am writing to you again, the second day in a row because of a matter which just came up and which may be of interest to you. When I was in Caleutta I noticed a number of poor Jews, who, I suppose, are largely unemployed or who could use better jobs. I was approached yesterday by a pious American Jew who is a manufacturer of knitted sweaters. He is desirous of setting up a factory to manufacture this product in India, My first interest is in Bombay, where there is a lerger Jewish commnity, and probably mre need, However, in case that does not wrk out, we might try Calcutta, As you know, according to Indian law Indian citizens must hold 51% of any business. The Indian government will, as m attempt to attract foreign investors, lend up to 75% of the finances at interest free for five years, The man in question, Mr. Yoel Klein, is Willing to invest anything from Fifty to One-Hundred Thousand sor thereabouts if an Indian or Indians ca be found to match his investment, set up in Caloutta? Please give it your prompt and serious attention for Mr. Klein is most serious about this proposition,All best wishes to Florence, mother and the family,Cordially yours,RABBIT NORMAN LAMM
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Letter to Abraham Jhirad about Possibility of Indian Jews Investing in Bombay Factory (1961)

Dear Abraham: I was delighted to hear from Dr. Weiss of your acceptance of the post of Executive Director of the Union of Orthodox Jewish Congregations of India. I have discussed with him some of the details, and you should be hearing from him very shortly. I feel that with your guidance, and with the assistance of Mr. Penkar, Mr. Manassah, and the others, the Union will progress and the cause of Torah Judaism will be served in India. Now let me propose to you your first significant assignment in your new post. It is something which, if you handle it well, and with dispatch and discretion, can be one of the greatest accomplishments for the Bene Israel and all Jews of India.I have been approached by one of our fellow Jews in New York who is a well-to-do businessman. He owns a knitting mill and manufactures sweaters. He is anxious to set up a factory someplace in India for the same purpose. I have convinced him to do this in an area where there is a large concentration of Jews so as to alleviate the unemployment problem and afford the possibility of observing Sabbath and holidays.Mr. Klein, the gentleman in question, is quite agreeable to the proposal.According to Indian law, every business venture of this sort must have at least 51% owned by Indians. As I understand it, the government is willing to lend up to 75% for five years, interest-free, as an inducement to foreign investors.Mr. Klein is willing to invest his share, anywhere from fifty to one hundred thousand dollars or the rupee equivalent, if Indian partners can be found who will invest an equivalent amount of money (i.e., slightly more – 51%), with the government providing the bulk of the financing, as mentioned above. If such Indian investors can be found, employment could be arranged for a large number of our people.I would like you, as Executive Director of the Union of Orthodox Jewish Congregations of India, to pursue the matter as one of the utmost urgency. Try first to interest Indian Jews who have th…
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Correspondence

Letter to Mr. Kolet about Investing in Bombay Factory (1961)

My dear Mr. Kolet: It was a pleasure seeing you here several weeks ago and showing you several of the classes of our Hebrew High School during their sessions. I would like to bring to your attention a matter which I think will please you and in which you might be of some assistance. When I was in India last year, I noticed the unemployment amongst many of the Bene Israel and also the fact that economic conditions forced many of them, who would otherwise observe the Sabbath and holidays, to violate them. Since then I have tried to make contact in America with people who would be willing to invest in industry in the Bombay area which will be able to employ Bene Israels and, at the same time, make it possible for them to observe all the tenets of our religion.I now have been successful in obtaining someone who is ready to invest in setting up a factory in India, preferably in the Bombay area or thereabouts. He is prepared to invest from fifty to one hundred thousand dollars or the rupee equivalent, and to send over people who will set up the operation.As I understand it, Indian law requires that 51% of a business be owned by Indian investors, and that, as an attraction to foreign investors, the government will lend up to 75% for five years interest free.What we are looking for, therefore, is an Indian or group of Indian investors who will be able to match Mr. Klein’s investment (i.e., 1% more).We have here a wonderful opportunity to help Indian Jewry both materially and spiritually. I have written to some people in Bombay and Calcutta asking if they think they can recommend a partner or partners for Mr. Klein.I think that you would perhaps be in the best position to do so, and also to offer any advice or assistance to help this venture.Please be kind enough to give this matter your attention as soon as possible and answer me at your earliest opportunity. If there are any prospects, Mr. Klein will make the flight to India — and possibly I will go along.Sincerely yours,…
India