Tata Steel wins the 'Corporate Citizen of the Year Award' at The Economic Times Awards, 2014
~Pioneer in steel chosen as the symbol of excellence in Corporate Social Responsibility ~
Tata Steel was awarded with the the 'Corporate Citizen of the Year Award' at The Economic Times Awards 2014 for corporate excellence in a function held at Mumbai on 29th November. The award was received by Mr. T V Narendran Managing Director, India & South East Asia, Tata Steel on behalf of the company.
The company was recognized post an independent assessment of its contribution to Corporate Social Responsibility in its areas of operations. Since its inception, Tata Steel has been a pioneer in social and community welfare initiatives. It has always been committed to the wellbeing of the society and the initiatives taken in various spheres of life has underscored this pledge of the company. Tata Steel's service to the society spans across many verticals and is dotted with the way they have facilitated different services dedicated to the well-being of the society.
Speaking on the award, Mr. TV Narendran, Managing Director, India and SEA, Tata Steel said, "At Tata Steel, we believe that the primary purpose of a business is to improve the quality of life of people and enable inclusive growth. Winning The Economic Times Corporate Citizen Awards 2014 reinforces our belief and strengthens our commitment in creating sustainable communities. We continue to engage with the communities and ensure sustainable growth in partnership with them".
ET adopted a democratic, participative and rigorous process to choose the best and the brightest of India Inc. In an elaborate two-step exercise, the selection process began with number crunching done by the ET Intelligence Group (ETIG). For the Corporate Citizen Award, the jury considered companies with a turnover exceeding Rs.500 crore that have done well and have made significant and governance challenges. Tata Steel emerged victorious among all the companies that were considered for this category. The jury consisted of eminent personalities chaired by Mr. Satya Nadella, CEO, Microsoft.
About Tata Steel
Established in 1907 as Asia's first integrated private sector steel company, Tata Steel Group is among the top global steel companies with an annual crude steel capacity of nearly 30 million tonnes per annum (MnTPA). It is now the world's second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries. The Tata Steel Group, with a turnover of US$ 24.81 billion in FY 14, has over 80,000 employees across five continents and is a Fortune 500 company. The Group's vision is to be the world's steel industry benchmark in "Value Creation" and "Corporate Citizenship" through the excellence of its people, its innovative approach and overall conduct. Underpinning this vision is a performance culture committed to aspiration targets, safety and social responsibility, continuous improvement, openness and transparency. In 2008, Tata Steel India became the first integrated steel plant in the world, outside Japan, to be awarded the Deming Application Prize 2008 for excellence in Total Quality Management. In 2012, Tata Steel became the first integrated steel company in the world, outside Japan, to win the Deming Grand Prize 2012 instituted by the Japanese Union of Scientists and Engineers.