Tata Trusts and Tata's group companies have come forward to help the country fight the pandemic. Tata Sons, the holding company of the Tata group has announced support of Rs 1,000 crore to help right the COVID-19 pandemic. This is in addition to the Rs 500 crore that Tata Trusts has committed to help protect medical personnel, increase testing and help treating patients.
Ratan Tata, Chairman Emeritus of the group took to Twitter to make the announcement of the Rs 500 crore commitment.
“The COVID 19 crisis is one of the toughest challenges we will face as a race. The Tata Trusts and the Tata group companies have in the past risen to the needs of the nation. At this moment, the need of the hour is greater than any other time,” he said in a tweet.
The Rs 500 crore will be used for:
- Personal protective equipment for medical personnel on the frontlines
- Respiratory systems to treat increasing cases
- Testing kits to increase per capita testing
- Setting up modular treatment facilities for infected patients
- Knowledge management and training of health workers and general public
“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 said.
The COVID 19 crisis is one of the toughest challenges we will face as a race. The Tata Trusts and the Tata group companies have in the past risen to the needs of the nation. At this moment, the need of the hour is greater than any other time. pic.twitter.com/y6jzHxUafM
— Ratan N. Tata (@RNTata2000) March 28, 2020
He added that Tata Trusts, Tata Sons and the Tata group companies are joined by local and global partners and 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.
Announcing the additional support of Rs 1,000 crore, Tata Sons said in a statement that it will work together with the Tata Trusts and Ratan Tata and would be fully supporting their initiatives, and work in a collaborative manner to bring the full expertise of the group.
In addition to the initiatives articulated by Tata Trusts, Tatas are also bringing in ventilators necessary and are gearing up to also manufacture the same soon in India.
Prior to this, several other companies too, have committed funds to help fight the coronavirus.
State Bank of India said it will commit 0.25% of its annual profit (FY 2019-20), while Axis Bank set Rs 100 crore aside to support employees, vendors, government agencies and customers and even the community to help curb the spread of coronavirus.
Anand Mahindra, Chairman for the Mahindra & Mahindra group announced on Twitter last week that he will contribute 100% of his salary to a fund that will assist small businesses and the self-employed, who would be hit hardest by the pandemic.
In addition, M&M is also adapting its manufacturing facilities to make ventilators and open its Mahindra Holiday resorts as isolation centres in view of overflowing hospital beds.