ABSTRACT
This chapter contributes to the productivity literature, which is the least researched topic in the Indian historiography. It estimates total factor productivity (TFP) using the econometric method. The estimation involves the measures of output elasticities of labour and capital, returns to scale and technical progress, which are also reported here, and explained. Time series of output, employment and physical capital are constructed to carry out these analyses. Contemporary data and information are gathered on the composition of board directors in jute companies to participate in the debate on the Indianisation process of modern industries in the inter-war period.
