Tatas pledge Rs 1,500 crore support for combating coronavirus

By: |
Updated: March 28, 2020 9:34:51 PM

Tata Sons, the holding firm of the Tata group companies, announced an additional Rs 1,000 crore support towards COVID-19 and related activities over and above Rs 500 crore pledged by Tata Trusts earlier in the day.

The Tatas on Saturday have pledged Rs 1,500 crore for combating coronavirus pandemic. 

The Tatas on Saturday have pledged Rs 1,500 crore for combating coronavirus pandemic. Tata Sons, the holding firm of the Tata group companies, announced an additional Rs 1,000 crore support towards COVID-19 and related activities over and above Rs 500 crore pledged by Tata Trusts earlier in the day.

In a statement, Tata Sons Chairman N Chandrasekaran said the group is also bringing in necessary ventilators and are gearing up to also manufacture the same soon in India. “The current situation in India and other parts of the world owing to the impact of COVID-19 is very worrisome and requires our very best action,” he said in a statement.

Announcing an additional Rs 1,000 crore support towards COVID-19 and related activities, Chandrasekaran said, “We will work together with the Tata Trusts and our Chairman Emeritus Tata and would be fully supporting their initiatives, and work in a collaborative manner to bring the full expertise of the group”.

He further said, “In addition to the initiatives articulated by Tata Trusts, we are also bringing in the ventilators necessary and are gearing up to also manufacture the same soon in India. The country is facing an unprecedented situation and crisis. All of us would have to do whatever it takes to alleviate and enhance the quality of lives of the communities we serve”.

Earlier in the day, Tata Trusts pledged Rs 500 crore for prevention and relief activities of the coronavirus pandemic.
The philanthropic organisation, which hold 66 per cent in the holding firm of the Tata Group, Tata Sons, said the fund has been earmarked for personal protective equipment for medical personnel on the front lines, respiratory systems for treating increasing cases and testing kits to increase per capita testing.

Besides, it would also be used for setting up modular treatment facilities for infected patients, knowledge management and training of health workers and the general public, Tata Trusts said in a statement. Commenting on the initiative, Tata Trusts Chairman Ratan Tata said, “The current situation in India and across the world is of grave concern and needs immediate action…At this moment, the need of the hour is greater than any other time.

“In this exceptionally difficult period, I believe that urgent emergency resources need to be deployed to cope with the needs of fighting the COVID 19 crisis, which is one of the toughest challenges the human race will face.” Tata Trusts and the Tata group’s companies have in the past risen to the needs of the nation, Tata added.

Tata Trusts, Tata Sons and the Tata group companies are joined by committed local and global partners as well as the government to fight this crisis on a united public health collaboration platform which will strive to reach out to sections that are underprivileged and deprived, he said.

“We are deeply grateful and have immense respect for every person of member organizations who have risked their life and safety to fight this pandemic,” Tata noted.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Natural Rubber output rises 9.4% to 7.12 lakh tonne in last fiscal
2Sugar mills’ working capital requirements to go up: Icra
3Raw jute prices come down to below MSP due to low capacity utilisation of mills