Brands are more than just a name or a logo; they embody a story and a legacy that has been built over time. Behind every brand, including The Times of India, there is a rich history and a unique set of circumstances that have shaped its identity and contributed to its success. These background stories have become an integral part of the brand, and they serve as an essential tool for building brand loyalty and connecting with customers. There are various brands that you think you know about, but do you really know them? In this series of articles, we will be telling you unknown stories behind the known brands, starting with The Times of India.
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The Times of India: A Legacy of Influence and Power
Picture a bustling Bombay in 1838, where the clatter of horse-drawn carriages mixes with the chatter of merchants and the scent of spices in the air. On November 3rd of that year, a modest biweekly paper, The Bombay Times and Journal of Commerce, emerges, aimed at the city’s business community. This humble publication, initially printed on Wednesdays and Saturdays, marks the beginning of a media empire that would eventually become The Times of India (TOI), one of the most influential newspapers in the world. Over the next 180 years, its journey through ownership changes, controversies, and expansions would mirror India’s own evolution, with the Jain family at the helm of its modern success, wielding significant influence over media, business, and even the political landscape.
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The paper’s early years saw rapid growth. By 1850, it transitioned into a daily to meet the rising demand for news in colonial India. In 1859, editor Robert Knight merged it with two other papers to form the Bombay Times and Standard, and in 1861, it was renamed The Times of India, signaling its broader national ambitions. Ownership changed hands several times until 1892, when English journalist Thomas Jewell Bennett and Frank Morris Coleman acquired it through their newly formed joint stock company, Bennett, Coleman & Co. Ltd.
“The Times of India Team in 1898 with Jewell Bennett and Frank Morris Coleman at the Center”
At the time, the company employed around 800 people, a significant operation for a colonial newspaper. Bennett, a seasoned journalist, aimed to elevate the paper’s editorial standards, but his tenure was short-lived. Facing financial pressures and personal challenges, including the economic strain of running a large publication in a competitive market, Bennett sold his stake and returned to England shortly after the acquisition. Coleman, his partner, continued to steer the company until tragedy struck in 1915, when he drowned in the sinking of the SS Persia, a Peninsular & Oriental Steam Navigation Company passenger liner torpedoed by a German U-boat during World War I, an incident that highlighted the era’s global tensions.
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The company, by then consolidated under the Times of India Group, remained in British hands until 1946, when industrialist Ramkrishna Dalmia acquired it for ₹20 million To understand the value of this amount in 2025 terms, we can adjust for inflation using historical data. In 1946, ₹20 million was a substantial sum. Based on inflation rates and economic growth in India, accounting for the rupee’s depreciation and purchasing power changes over nearly eight decades, ₹20 million in 1946 would be equivalent to approximately ₹3.5 billion (or roughly US$42 million) in 2025, reflecting the dramatic economic shifts in India over this period. Dalmia, born in 1893, was a towering figure in Indian industry, founding the Dalmia-Jain Group, a conglomerate with interests in cement, sugar, and chemicals. Known for his sharp business acumen, Dalmia saw the acquisition of BCCL as a strategic move to expand his influence into media. However, his methods were far from clean. In 1947, he orchestrated the purchase by transferring funds from a bank and an insurance company he chaired, a move that would later come under scrutiny.
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We do not claim any copyright in the above image. The same has been reproduced for academic and representational purposes only.
The acquisition sparked controversy when, in 1955, socialist parliamentarian Feroze Gandhi, a member of the ruling Congress party, exposed Dalmia’s financial maneuvers in Parliament. The Vivian Bose Commission of Inquiry was set up to investigate, and its findings confirmed Dalmia’s wrongdoing. He was sentenced to two years in Tihar Jail, though he spent much of that time in a hospital. During his incarceration, Dalmia entrusted the company’s management to his son-in-law, Sahu Shanti Prasad Jain. Upon his release, Dalmia attempted to reclaim control, but Jain, backed by his family, rebuffed him. By the late 1950s, Jain had bought out Dalmia’s stake, marking the beginning of the Jain family’s dominance over BCCL.
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The Jain Family
The dispute didn’t end there. In the early 1960s, Shanti Prasad Jain faced his own legal troubles, accused of selling newsprint on the black market. The government, citing the Vivian Bose Commission’s earlier findings, moved to restrain Jain’s management of BCCL. In 1969, the Bombay High Court, under Justice J.L. Nain, ordered the existing board disbanded and a new government-appointed board installed, with a Bombay High Court judge as chairman. This government control was short-lived; in 1976, during India’s Emergency, ownership was transferred back to Ashok Kumar Jain, Shanti Prasad’s son and Dalmia’s grandson, cementing the Jain family’s grip on the company.
The Jain family’s origins trace back to Rajasthan, where they were part of the Marwari community, known for their business acumen. Shanti Prasad Jain, born into this tradition, married into the Dalmia family, which gave him access to significant resources and networks. His descendants—Indu Jain, her sons Samir and Vineet Jain, and their families—built on this foundation, transforming BCCL into a media juggernaut. Indu Jain served as chairwoman, while Samir and Vineet took on roles as managing directors, steering the company through India’s economic liberalization in the 1990s and beyond.
Under their leadership, BCCL, now known as The Times Group, expanded far beyond its flagship The Times of India, which boasts the largest circulation of any English-language newspaper globally at 2.8 million copies. The group launched a slew of publications, including The Economic Times, Navbharat Times (Hindi), Maharashtra Times (Marathi), Ei Samay (Bengali), and city-specific papers like Mumbai Mirror, Bangalore Mirror, and Pune Mirror. It has over 139 editions, reaching 1,200 towns across the country. It also published influential magazines such as Dharmyug and Sarika, edited by literary giants like Khushwant Singh and Agyeya, though many of these faced financial challenges and shuttered in the 1990s.
The Times Group didn’t stop at print. It ventured into television with channels like Times Now, ET Now, and Movies Now, and into radio with Radio Mirchi. The group also established a strong digital presence through Times Internet, which operates websites in recruitment, real estate, and matrimony, such as SimplyMarry.com. Beyond media, the Jains diversified into education, real estate, e-commerce, and finance, making The Times Group a 360-degree conglomerate with over 50 offices and 55 websites across India.
The Jain family’s influence extends deep into India’s socio-political fabric. With The Times of India once considered “the leading paper in Asia” by Lord Curzon in the colonial era and ranked among the world’s six best newspapers by the BBC in 1991, the group has shaped public discourse for decades. Its readership of over 7.6 million for TOI alone gives it unparalleled reach. However, this power has not come without criticism. The group has been accused of pioneering paid news in India, a practice where positive coverage is exchanged for payments, raising ethical questions about its journalistic integrity.
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Politically, the Jains hold significant sway. During the 1975 Emergency, TOI’s Bombay edition published a symbolic obituary for “D.E.M. O’Cracy,” a bold critique of Indira Gandhi’s emergency measures, showcasing the paper’s willingness to challenge power. Today, the family’s media empire gives them leverage in government formation, as their outlets can influence public opinion and political narratives. Samir Jain, known for his marketing innovations, and Vineet Jain, with over 20 years in media, oversee a sprawling business network, with Vineet also chairing entities like Bharti Nidhi Limited and Times Network Limited. In 2023, the group split its assets between the brothers, with Samir taking print and Vineet managing broadcast and radio, a move that further solidified their separate individual legacies.
The Times Group’s success is undeniable, but it’s worth questioning the cost. While the Jains have built a media empire that employs thousands and informs millions, their dominance raises concerns about media monopolies and the blurring lines between editorial and advertising. As India navigates its democratic journey, the Jain family’s influence—rooted in a 19th-century newspaper but now spanning TV, digital, and beyond—remains a double-edged sword, both a pillar of information and a player in power dynamics. For better or worse, their story is as much a part of India’s history as the nation itself.
Source: https://www.linkedin.com/pulse/stories-behind-brands-times-india-legacy-ink-power-dr-mohan-dewan-nxg9f/