For 54 years he was the voice of industry in South India

 A Tribute to S.Viswanathan

Can someone without specific academic qualifications or experience in journalism, and no financial resources but just a dream, launch an industrial magazine and run it successfully for 54 years? S. Viswanathan (SV), Founder Editor and Publisher of ‘Industrial Economist’ (IE), dared to do this.

SV  celebrated  two landmark events in his life in 2018; his 80^th birthday in January and the Golden Jubilee of IE on March 15th. I had the pleasure of attending this grand event at ITC Grand Chola in Chennai  and  witness for myself the tremendous respect he commanded from both the corporate bigwigs of the time and Bureaucrats of both state and central governments.

SV`s story as a successful economic journalist is worth recounting to provide inspiration to many aspiring  young  journalists.

SV’s first brush with writing and printing happened when, after graduation,  he was teaching  mathematics in some well known institutions in Chennai. His association with the Social Service Centre, Mambalam, provided him an opportunity to work on social issues like hygiene and nutrition and also to bring out a souvenir for the Centre. It was a good experience in editing, advertising and marketing.

 This  brought him in touch with Krishna Srinivas (KSri) who was publishing two magazines, ‘Indian Industries’ and ‘Poet’—both printed at his printing press. Impressed by SV’s work, KSri invited him to help him run the magazines and the press. Armed with the knowledge gained working with KSri, Viswanathan decided to turn entrepreneur. He was only 24 when he launched the monthly magazine ‘Mobile’, in 1962, devoted to the transport industry  with  guidance from S.N.Ramasami of the TVS group. Less than two years later, he started another trade magazine, ‘Trade Wheel’, devoted to the two-wheeler industry.

An important breakthrough came when he traded advertising space for a round-trip ticket to Europe with Pan-Am. He used his connections with the Press Bureau of German Industry in India, to get the opportunity to visit  six renowned German companies . The trip opened  SV`s  eyes to the immense opportunities and scope for industry-focused journalism.

SV decided to phase out  `Mobile `magazine and  bring out an industry based-magazine focused on South India as  there was an opening up of a window of opportunity because economic journals from Kolkata (‘Capital’), Delhi (‘Eastern Economist’), and Bombay(‘Commerce’), all industry-owned publications, had folded up. And so, ‘Industrial Economist’ (IE) was born in 1968.

The first issue of IE was released as a fortnightly on March 15, 1968. It had 36 pages, a cover price of 75 paise (annual subscription Rs. 15), and a print order of 2,000 copies.

According to SV, the concept of the ‘Advertorial Supplement’ on a particular topic/event introduced by IE, was the first of its kind in business journalism. The supplements had anywhere from 24 to 80 pages. The first supplement was on the inauguration of Madras Refineries Ltd. in September 1969. It was a part of the regular issue of the magazine and carried special features on the prestigious plant built with multinational involvement. MRL ordered 5,000 copies of the supplement for distribution. It was a good business idea and IE over the years produced over 100 such supplements.

The growing business necessitated shifting the office from his home in T. Nagar to a rented premises. With the move, came the idea of expanding the press. Unfortunately by the time  SV imported  printing machines  from Germany  and installed them technology had changed. Letter-press became obsolete and computers took over. SV struggled for a decade before deciding to quit the printing business!

Even while SV was fighting a battle on the business front, burdened with term loans, he was fast gaining recognition as an economic editor. He started getting invited to the annual Economic Editors’ Conferences hosted by the Union Government in Delhi which provided for interactions with Central ministers and senior civil servants. From 1973, for 45 years, SV was the sole representative to focus on southern economic issues  at  these conferences.

In 1985, SV switched to electronic/computer typesetting and desk top publishing/digitisation. Eight years later, IE celebrated its Silver Jubilee. To commemorate the 1993 Silver Jubilee, IE instituted the first ever ‘Business Excellence Award’ for corporates in South India. SV  formed an independent awards committee to make the decision. The Awards were discontinued in 2001 when SV found the mushrooming TV channels in Delhi presenting a plethora of awards.

In 1994, SV decided to go public. His company IE became a unit of the new company, Economist Communications Ltd. In the early 1980s, SV had moved to a  rented property in Guindy Industrial Estate. When new sheds were built there, he got allotted a 2,500 sq. ft. shed, and in 2001, 5,600 sq. ft. land. Foreseeing the transformation of Guindy into a large commercial hub, he raised a sophisticated commercial building designed by C.R. Narayan Rao architects and constructed by L&T.  In a record seven months, Economist House was built.

With steady rent coming from lessees, SV was  able to bring out IE regularly, modestly supported by advertising. Importantly, he was able to be independent. SV fought a long legal battle to win the right of journalists to be critical of corporates.

SV groomed many young journalists in economic journalism. His enthusiasm and energy displayed in  bringing out IE for 54 long years without compromising on  the quality of the contents or production is truly praiseworthy. In spite of a setback in his health due to Covid, he bounced back  to think of new ideas to keep the magazine going.  Keeping with the times in recent months the magazine had also started coming out in digital format.

In his passing away on 22^nd October, at the age of 84,  the world of economic journalism has lost a veteran.

He was a good friend and a well wisher. I will miss him. May his soul attain Satgathi!