How Indian Corporations are commiting to fight COVID-19
As corporations contribute to fight the novel coronavirus both financially and socially, the government has a major role to play in allocation of these resources and put them to judicious use.
As celebrated Industrialist Ratan Tata commits Rs.500crores to fight COVID-19 through Tata Trusts, numerous Indusrialists and Corporations have pledge to fight the pandemic.
Reliance Industries Limited (RIL) has provided an initial support of Rs 5 crore to the Maharashtra Chief Minister’s Relief Fund to help tackle the COVID-19 outbreak. Reliance also announced free fuel for all emergency service vehicles in the country. Reliance Retail has also announced longer hours from 7 am to 11 pm at its outlets for customers.
Mahindra & Mahindra expects to come up with a sophisticated ventilator for just Rs 7,500, which otherwise costs up to Rs 10 lakh, as it seeks to assist in combating the coronavirus pandemic.
The Bajaj Group has also announced a Rs 100 crore aid for the fight against COVID-19. This amount will be divided into various verticals with a major part earmarked for food and shelter to daily wage workers and homeless families. A part of it will also be used to support the upgradation of key healthcare infrastructure in Pune such as upgrading ICUs, procuring additional equipment like ventilators, personal protection items, enhancing testing, and setting up of isolation units in government and private sector hospitals.
Vedanta Resources Limited CEO Anil Agarwal also committed Rs 100 crore towards fighting the COVID-19 pandemic. Pledging the amount CEO Anil Agarwal tweeted, "I am committing 100 cr towards fighting the Pandemic. #DeshKiZarooratonKeLiye is a pledge that we undertook & this is the time when our country needs us the most. Many people are facing uncertainty & I’m specially concerned about the daily wage earners, we will do our bit to help."
Paytm founder announced that the company is going to commit Rs 5 crore for development of medical solutions to fight COVID-19. CEO Vijay Shekhar Sharma tweeted, "We need more Indian innovators to start building such indigenous solutions for potential ventilators shortage and other COVID cures. @Paytm commits 5 crore for such teams working on COVID related medical solutions. Stay Home, Stay Safe"
Meanwhile, India's largest bicycle maker Hero Cycles has set up a Rs 100 crore contingency fund to tackle the virus. Commenting on the same, Pankaj Munjal, HMC Chairman and MD, said, "As an organization that stands for the principles of business with a humane approach, we are allocating Rs 100 crore as a contingency fund to help the entire ecosystem around our organization survive this crisis. We are also reaching out to different state governments to offer all possible help."
As corporations contribute to fight the novel coronavirus both financially and socially, the government has a major role to play in allocation of these resources and put them to judicious use. Despite various attempts across the globe, the pandemic is hard to control. The fight continues in the nation as the people, the governments and the corporations all unite against the outbreak.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house
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