Bombay Burmah Trading Corporation
|This article relies largely or entirely on a single source. (April 2017)|
The Bombay Burmah Trading Corporation Limited (often simply called the "Bombay Burmah Trading Company") was formed in 1863 by the Wallace Brothers. The Corporation was originally formed as a public company to engage in the Burmese tea business by taking over the assets in Burma of William Wallace. It is India's second oldest publicly quoted company.
The Wallace Brothers were a Scottish merchant house in Edinburgh. The six brothers first arrived in Bombay (now Mumbai) in the 1840s. A Bombay partnership was formed in 1848 as “Wallace Bros & Co”. In the mid-1850s the Wallaces set up a business in Rangoon, shipping tea to Bombay. In 1863 the business was floated as “The Bombay Burmah Trading Corporation” (BBTC). Its equity was held by Indian merchants, as well as the Wallace Brothers who had the controlling interests. By the 1870s it was a leading producer of teak in Burma and Siam, as well as having other interests in cotton, oil exploration and shipping.
British motivations for the third Anglo-Burmese War were partly influenced by concerns of capitalism. The Burmese state’s conflict with the BBTC furnished British leaders with a pretext for conquest. By the 1880s Wallace Brothers had become a leading financial house in London. This firm was able to affect the intelligence about Burma and, more critically, about the growing French influence in the country.
The Vissanji family purchased the company from the Wallace brothers around the time of Indian independence. In 1992, the BBTC acquired and merged in BCL Springs. Later, BBTC was acquired by the Wadia group based in Bombay.
- Arnold Cecil Pointon, Bombay Burmah Trading Corporation 1863-1963 (Southampton: The Millbrook Press. 1964) 142 pp
- RH Macaulay, History of Bombay Burmah Trading Corporation 1864 -1910 (London, 1934).
- Anthony Webster, Gentlemen Capitalists: British Imperialism in South East Asia 1770-1890. (London: Tauris Academic Studies. 1998)
- Verghese, Luke. "Bombay Burmah: A sprawling conglomerate". www.equitymaster.com/. Retrieved 8 February 2017.