Tata Sons' Rs 1,000 cr top-up takes group coronavirus fund to Rs 1,500 cr - India's biggest
BusinessToday.In March 28, 2020
Tata Sons had announced an additional Rs 1,000 crore support towards coronavirus fund. This is in addition to the Rs 500 crore announced by the Tata Trusts.
Chairman Tata Sons N Chandrasekaran, in a statement, said, "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."
"We will work together with the Tata Trusts and our Chairman Emeritus Mr. Tata would be fully supporting their initiatives, and work in a collaborative manner to bring the full expertise of the group" added the statement.
"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 company added.
"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," said the statement.
Earlier today, Chairman Tata Trusts Ratan Tata had also committed Rs 500 crore towards manufacturing of personal protective equipment, respiratory systems, testing kits, setting up modular treatment facilities and training of health workers.
"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," the businessman tweeted while attaching a statement from Tata Trusts.
He said that in this exceptionally difficult period, "urgent emergency resources need to be deployed to cope with the needs of fighting the COVID 19 crisis".