Jamshedpur 29 March 2020: The House of Tata has pledged Rs 1,500 crore to combat the coronavirus crisis that has sent India into a lockdown. This is the largest commitment made by a business group in the country towards the fight against the Covid-19 pandemic.
Tata Sons have committed a support of Rs 1,000 crore and its controlling shareholder, Tata Trusts, have committed a support of Rs 500 crore, to “protect and empower all affected communities”. The virus, which emerged in China in November, has brought trade and business activities to a halt in several countries. This virus has affected more than 6 Lakh people and has killed more than 30,000 people around the world.
“The Covid-19 crisis is one of the toughest challenges we will face as a race…At this moment, the need of the hour is greater than any other time,” tweeted Tata Trusts chairman Ratan Tata, along with a statement from the public charitable organisation. In the statement, Tata said in this exceptionally difficult period, “urgent emergency resources” need to be deployed to cope with the needs of fighting the Covid-19 crisis. The funds will be used to set up treatment facilities, manufacture respiratory systems & protective health gear, train health workers and supply testing kits.
In a separate statement, Tata Sons chairman N Chandrasekaran said that the company will work with Tata Trusts in all the Covid-19-related initiatives to bring the “full expertise of the group”. Chandrasekaran added the conglomerate is gearing up to manufacture ventilators, which is in huge demand because of the rising coronavirus cases in the country.