Jagannath Shankarseth (10 February 1803 – 31 July 1865), popularly known as Nana, was an important industrialist, educationist and philanthropist of the 19th century. Born into a wealthy Brahmin family, Shankarseth gave up the priestly duties of his forefathers and went into trade. Over the years, he earned reputation and, with it, a considerably large fortune.
Nagannath Shankar Sheth's role as an educationist, philanthropist, social reformer, quasi-political representative of Indians in British India, and a foremost man among the original makers of Mumbai remains inspirational to this day.
Nana conducted his trade and business with great success and respect. Legend has it that Arab and Afghan merchants kept their monies and treasures with him instead of the banks. The family lived in a large wada in Girgaum. The wada was recently demolished for a high-rise.
Shankarseth contributed to the city by bankrolling museums, educational institutions and public buildings. He was the first Indian member of the Asiatic Society and made large donations to the Victoria & Albert Museum (present-day Dr Bhau Daji Lad Museum).
Nana gave up the land he owned for public purposes. He founded societies and institutions that make a mile-long list — among them the Native School of Bombay that became the Board of Education and later the Elphinstone College, an English school, a girls’ school, Sanskrit library. He helped set up the university and co-founded the Bombay Association to represent traders and businessmen. He donated to setting up museums and gardens.
He alongside Sir Jamsetjee Jeejeebhoy formed the Indian Railway Association back in 1845 with the purpose of bringing railways to India. This association eventually was incorporated into the Great Indian Peninsula Railway with Jeejeebhoy and Shankarsheth acquiring two seats at the directors’ table. At the time of formation, the two men were the only Indians among Great Indian Peninsula Railway’s board of ten directors. As a director, Shankarsheth was on the historic April 16, 1853 train ride between Bombay and Thane – the first ever passenger train to run on Indian soil.
Nana played the role of community leader-reformer to an extent that the British enlisted his help to outlaw the practice of Sati in Bombay presidency. He was the first Indian to be nominated to the Legislative Council of Bombay and a member of the Asiatic Society of Bombay, when Indians were not welcome there. Nana joined forces with Sir George Birdwood and Dr Bhau Daji Lad to initiate major reconstruction projects in Bombay to give it planned buildings, streets and avenues. Nana’s use of personal wealth for the city’s development would put today’s wealthy Mumbaikars to shame.
Nana Shankar Sheth’s philanthropy, indeed his philosophy of underwriting the city’s physical and social infrastructure as that of the Parsis, helped transform Bombay into a city of trade, commerce, and social and intellectual capital. The city has not acknowledged it in full measure.
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