> "Despite economic success and unprecedented production rates, financial
> backing for ECME was lost as investors viewed such a high level of
> automation a threat to people's livelihoods."

Wikipedia has a more plausible explanation:

"...a large order of radios by the Indian government was cancelled in 1947 
following Indian self-governance, and investors withdrew their backing of 
Sargrove Electronics Ltd, which then went into liquidation."

http://en.wikipedia.org/wiki/John_Sargrove

Vitaliy 

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