September 03, 2008

 

Is Tata just another profit-mongering company?

If Mamta Banerjee's allegation against Tata were to be believed, Tata is just another corporate group with sole motivation of making profit, as much as it can, with complete and utter disregard to the welfare of the society, country and people.

The blokes at Greenpeace also think the same who make noise at Tata Steel's annual meeting. 10 activists buy 1 share each, raise questions at the meeting and insist that they will talk only to Ratan Tata. And then publish the account of their bravado on their website. Folks, here is an idea I wrote about, which even the company will be happy to comply - doing away with the annual reports. Meanwhile, realize that the reports you received were printed on a very lively branch of a tree.

Here is some trivia Ms Banerjee and Greenpeace should pay some serious attention. From Tata Group's website,
"Two-thirds of the equity of Tata Sons, the Tata Group’s promoter company, is held by philanthropic trusts which have created national institutions in science and technology, medical research, social studies and the performing arts. The trusts also provide aid and assistance to NGOs in the areas of education, healthcare and livelihoods."
And this is over and above the contribution by individual group company.

So, Ms Banerjee wants us to believe that Tata's are adopting anti-people policies so that they can reap huge profits, which will, ironically enough, go towards philanthropy.

If a group with high ethical standards of business faces such hurdles, are we sending the signal out there that India is a place to do business only if you can buy your way out?

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