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National workshops to provide employment were set up.But now, the costly new machines could be purchased, set up and maintained in the mill.Initiate rapid economic growth to raise the standard of living, reduce unemployment and poverty; Become self-reliant and set up a strong industrial base with emphasis on heavy and basic industries; Reduce inequalities of income and wealth; Adopt a socialist pattern of development — based on equality and prevent exploitation of man by man.The Tata Iron and Steel Company (TISCO) that came up began producing steel in 191 TISCO was set up at an opportune time.Melani, like the millions of domestic workers across the country, is forced to endure the insults and hardship of working as a domestic help because she has no resources to set up something on her own.The initial government plan was to set up institutions for orphans and widows.Foreign Investment Promotion Board (FIPB) was set up to promote and channelise foreign investment in India.Having assured themselves of these conditions, MNCs set up factories and offices for production.The Bretton Woods System: The Bretton Woods Conference held in 1944 set up the International Monetary Fund (IMF) and the World Bank and reestablished a system of fixed exchange rates.There was a big table set up with all kinds of stuff on it, just for me.International Development Association (IDA) was set up in 1960 as an affiliate of the World Bank.The first cotton mill in India was set up as a spinning mill in Bombay in 185 From the early nineteenth century, Bombay had grown as an important port for the export of raw cotton from India to England and China.The chapter also identifies and examines the role of various trade promotion measures and organisations set up for promotion of international business.If we are to understand the events leading to Bhopal disaster, we have to ask: why did Union Carbide set up its plant in India? One reason why foreign companies come to India is for cheap labour.Some of these have been set up with the specific purpose of providing management education such as the Indian Institutes of Management (IIMs) in India.