Starts New Industries
Kudva had realised that to provide employment and in keeping with the enterprising spirit of the people more and more industries must be set up. He put his conviction into practice by founding The Canara Sales Corporation Ltd. in 1938 and The Canara Motor & General Insurance Co. Ltd. in 1941.
He founded The Canara Workshops Ltd. in 1943 and started manufacture of automobile leaf springs under the brand name Canara Springs in 1950. Considering the increased demand in Northern India he opened another factory in Nagpur. The Nagpur unit was closed in the late 60's due to various problems faced by the company. The raw material for the leaf springs, spring steel flats used to be imported into the country. In the late 60s Kudva felt the need for starting a mini steel plant to manufacture the required spring steel within the country. With this in mind a mini steel plant consisting of a 5 metric tonne electric arc furnace, a vertical continuous casting machine to cast steel billets and a rolling mill was conceptualised.
This steel plant was commissioned in Mangalore in 1963, and production of steel started a year later after initial production related problems were sorted out. The continuous casting machine when commissioned was the very first in India.
In 1947 he started The Canara Tyre & Rubber Works Ltd. He also started and managed several other transport concerns. Bonus, gratuity, pension benefits were given to employees in his companies even before it became mandatory by law.
Read more about this topic: Vaman Srinivas Kudva
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