Shipping
In 1919, after the end of World War I, he along with his friends, Narottam Morarjee, and Kilachand Devchand, bought a steamer, the SS Loyalty from the Scindias of Gwalior; with Narottam Morarjee being major financer. Walchand's underlying assumption was that the post-war years would also spell massive growth for the shipping industry just as the war years had done. However, British companies such as P&O and BI Shipping were strong in the shipping industry and most of the attempts by domestic players till then had failed. Walchand named his company The Scindia Steam Navigation Company Ltd. and competed with the foreign players. It was recognised as the first Swadeshi shipping company in the true sense of the term and was referred to widely in Mahatma Gandhi’s columns in Young India and Harijan on Swadeshi, boycott of foreign goods and Non co-operation movement. It barely managed to survive after entering into agreements on routes and fare wars with its foreign competitors. However, Walchand still supported new indigenous shipping ventures, as he believed that a strong domestic shipping industry was the need of the hour. In 1929, he became the Chairman of Scindia Steam and continued in the same position till 1950 when he resigned on grounds of ill health. By 1953, the company had captured 21% of Indian coastal traffic.Sir Lallubahi Shamaldas was amongst the later directors of Scindia Steamship.
Walchand was founder of Indian National Shipowners' Association, which was founded in December, 1929. Walchand remained its Chairman for 19 consecutive years.
Walchand along with Annie Besant and M. R. Jayakar was the first sponsor of first national news agency, the Free Press of India founded in 1927.
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