Tata Steel Shutdowns It's Business with Russia

Tata Steel, India's largest steelmaker by sales, announced on Wednesday that it will no longer do business with Russia due to the country's invasion of Ukraine.
Tata Steel Shutdowns It's Business with Russia

Tata Steel, India's largest steelmaker by sales, announced on Wednesday that it will no longer do business with Russia due to the country's invasion of Ukraine.

"Tata Steel has no activities or employees in Russia. We have made the intentional choice to discontinue doing business with Russia "In a statement, the company stated.

For its steelmaking process, the company imports coal from Russia.

Infosys Company Also Stopped Work With Russia Along With Tata Steel

Infosys Company

Tata Steel is one of just a few Indian corporations that have stopped doing business with Russia, although India has not condemned the invasion and has not put sanctions on Moscow.

Infosys, India's second-largest software services provider, said last week that it will withdraw from Russia.

Western allies have urged India to speak out against the conflict. Several Western corporations have pulled out of Russia.

Tata Steel’s Step Lead the UK and Netherlands to Find Alternate Raw Materials

Tata Steel

According to the firm, all of Tata Steel's manufacturing plants in India, the United Kingdom, and the Netherlands have acquired alternate raw materials to reduce their reliance on Russia.

"They (the EU) will cease their commercial links, and our enterprises in the UK and the Netherlands are part of that decision," said a senior Tata Steel official who declined to be identified. According to the CEO, coal supply from Russia is "minuscule."

TCS, part of the Tata group, said that while it does not have any operations in Russia, it is assisting customers in maintaining their business continuity plans and sees a potential to increase employment in Eastern Europe, where it employs approximately 5,000 people.

"A large number of individuals have emigrated from Ukraine to countries such as Poland and Hungary." "They're begging for employment, which provides us an opportunity to grow local recruiting there," TCS CEO Rajesh Gopinathan previously stated.

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