Adoption of the Joint Stock Company in British India: History and Patterns

Abstract

The joint stock company was introduced to India in the late 17th century but only gained widespread usage in India during the 20th century. However, the adoption of the joint stock company was closely linked to family businesses and did not spread in a uniform manner across the population. This article will examine the spread of the joint stock company in India and look at four groups: Hindus, Muslims, non-conforming Muslims and Zoroastrians. We will suggest that the legal and business institutions of these four groups shaped their willingness to adopt the joint stock company.