2003 - Dadabhai Naoroji | Commemorative Coin

The 5th commemorative coin of 2003 was issued in honour of the “Grand Old Man of India,” Dadabhai Naoroji.

Dadabhai Naoroji, often revered as the “Grand Old Man of India,” was one of the earliest and most influential leaders of India’s national movement. Born on September 4, 1825, in Bombay (now Mumbai), Naoroji emerged as a pioneering intellectual, political economist, educator, and patriot whose ideas laid the foundation for India’s struggle against British colonial rule. His work combined deep scholarship with unwavering dedication to the cause of Indian self-governance, making him a towering figure in India’s modern history.

Naoroji’s contributions spanned multiple fields, beginning with education and social reform. As one of the first Indians to become a professor at Elphinstone College, he inspired generations of students through his emphasis on rational thinking and progressive values. He later went on to establish important institutions such as the Gyan Prasarak Mandali and the Rahnumae Mazdayasne Sabha, which played a crucial role in promoting education, reform, and community upliftment among the Parsis and broader Indian society.

A central aspect of Naoroji’s legacy is his pioneering economic critique of British rule. His celebrated “Drain of Wealth” theory exposed how Britain systematically extracted economic resources from India, leading to widespread poverty and stagnation. Through meticulous research and compelling analysis, Naoroji demonstrated how India’s wealth was being siphoned off through unfair trade practices, excessive taxation, and the exploitation of Indian labor. This groundbreaking work not only shaped Indian nationalist thought but also equipped future leaders with a powerful intellectual framework to challenge colonial policies.

Naoroji was also a trailblazer in the political sphere. In 1892, he became the first Indian to be elected to the British House of Commons, representing the Liberal Party. His victory was historic, achieved in the face of racial prejudice and skepticism. As a Member of Parliament, Naoroji used his platform to advocate tirelessly for India’s rights, pressing for administrative reforms, economic justice, and greater Indian representation in the civil services. His presence in the British Parliament significantly raised international awareness about India’s political aspirations.

Back home, Naoroji played a foundational role in shaping the Indian National Congress (INC). He was one of its earliest leaders and served as Congress President three times, guiding the organisation during its formative years. His moderate yet firm approach emphasized constitutional methods, dialogue, and unity among India’s diverse communities, helping cement the Congress as the principal platform for India’s freedom movement.

Dadabhai Naoroji’s life was marked by integrity, intellect, and an unshakeable commitment to the welfare of the Indian people. He passed away on June 30, 1917, but his ideas continued to inspire generations of freedom fighters. Mahatma Gandhi, Bal Gangadhar Tilak, Gopal Krishna Gokhale, and many others regarded him as a mentor and visionary whose work laid the intellectual foundation for India’s eventual independence.

Remembered as a statesman, economist, educator, and patriot, Dadabhai Naoroji occupies a unique place in India’s history. His contributions not only shaped the early phase of the national movement but also helped define India’s economic and political identity. His legacy remains a testament to the power of knowledge, perseverance, and unwavering dedication to one’s nation.