' 50 SOCIAL SCIENTIST 42nd position in terms of assets. In terms of sales it ranked 31 st, and in terms of profits, it even attained the 8th position.2 Its share capital increased from Rs. 5.5 crores in 1972 to Rs 18.0 crores in 1981. Among the company's products, electric lamps and their components in 1981 accounted for 45 per cent of the total turnover. Radio sets, record players and tape recorders accounted for 33.6 per cent. Industrial and medical products and apparatus (e.g. electrodes and electronic measuring instruments) formed 9.4. per cent of the sales and intercom and telecommunication system 3.2 per cent. The relative share of the various products has remained largely unaltered during the last ten years. The non-consumer products thus continue to represent only a litde more than 12 per cent of the total sales. The data on total turnover indicate that the value of sales has increased four times between 1972 and 1982, namely, from Rs 491 million to Rs, 1,805 million. In 1980 the total turnover of the company was Rs, 1,199 million. The sharp increase in sales during d[ie last two years is partially due to the extension into new product lines (domestic appliances, audio systems, welding equipment, industrial measuring systems, amplifiers, dry battery cells, clock-radios, etc.). History of Expansion Until 1948, Philips India operated without any manufacturing unit of its own. The first unit to be set up was at Calcutta in 1948 for the production of radio receivers. The new unit could capture a substantial portion of the radio receivers market. By the mid-fifties, its production accounted for 35 percent of total output in the country. Presently, the company is contolling almost half of the organised sector's production. In the area of electric lamp manufacturing, the strategy of the company during almost two decades in the pre-independence period was not to expand under its own banner. In 1938, the Electric Lamp Manufacturers (India) Limited (ELMI) was established. The sponsors ofELMI were all U.K. companies, and Philips^ operated through its U.K. branch. Apart from Philips U.K., the other companies were General Electric Company (GEC) Limited, Crompton Parkison Limited, Mazda Lamps and Associated Electrical Industries Limited (AEI). Philips had 35.35 per cent of equity shares of ELMI, and the rest was divided among the other promoters. In 1981 Peico finally succeeded in becoming the sole proprietor of this company. Another unit with a Philips connection, the Radio Lamp Works Ltd., was registered at Karachi in 1938. In 1947, as a result of the partition. Radio Lamps Works was shifted to Shikohabad in Uttar Pradesh, where it amalgamated with the local Kaycee Glass Works. Following the various financial difficulties faced by the unit in 1952-53, a new company called Hind Lamps Limited was formed on the basis of a collaboration between Radio Lamps Limited (later called Bajaj Electricals Limited) and the group of companies which had formed the ELMI. Both these groups. Radio Lamps and ELMI, contributed 50 per cent each of the equity capital of Hind Lamps