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
80th 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 22nd 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!