Archive · 15 Nov 2025
Book Review: 'Running Behind Lakshmi' Explores BSE's History and Resilience
This book is about the history of India's first stock market, called BSE, in Mumbai.
It started a long time ago when India was still ruled by the British.
The book talks about how Indian businesses were strong and tried hard to succeed, even when it was difficult.
It explains that the stock market's story is sometimes like India's economy, and sometimes very different.
The author looked at old papers to find out how the market started and how people used to trade things like cotton.
The book also looks at what happened after India became its own country, discussing how the economy grew and if the stock market helped people save money.
Some parts of the book discuss different ideas about why things happened the way they did.
Adil Rustomjee's book 'Running Behind Lakshmi' chronicles the history of BSE Ltd, Asia's potentially oldest stock exchange.
The book highlights the resilience of Indian businesses against colonial-era restrictions.
Founded in 1875 by local traders, BSE's early days were influenced by global events like the American Civil War.
The review notes that the book effectively covers the early speculative urge and key figures like Premchand Roychand.
The book's analysis of the post-independence era and economic policy is critiqued for lacking archival support and relying on anecdotal evidence.
- Who
- Investment adviser Adil Rustomjee
- What
- Authored a book documenting the history of BSE Ltd (formerly Bombay Stock Exchange)
- When
- BSE founded in 1875; book reviews history up to post-independence era
- Where
- Mumbai, India (BSE's location)
- Why
- To chronicle the resilience of Indian businesses and the evolution of the stock exchange.
- Book Title
- Running Behind Lakshmi
- Author
- Adil Rustomjee
- Publisher
- Hachette India
- Pages
- 862
- Price
- ₹ 1,599
- BSE Founding Year
- 1875