While India is grappling with the second wave of Covid 19, Indian Corporate is stepping up and contributing to tackle it. In the past year, major aid came on social and humanitarian grounds. Whereas in 2021, funds are utilized to support the infrastructural demand. From big business houses to niche startups, each firm is donating its bit. Let’s look at some of them.
Crux of the Matter
In one of the most unprecedented times, the Corporate India is stepping up to support not only its employees but also other people. Let’s see how from conglomerates to startup, many companies are doing their bit to tackle Covid-19.
Startups To The Rescue
- Paytm will continue to pay salary for the current fiscal to the families of its 8 employees who succumbed due to Covid.
- Zomato will provide 100% of the income to the family of the deceased employees for 2 years.
- Flipkart will give paid Covid Care Leave of 28 calendar days in case an employee is diagnosed with Covid.
- Urban Company set up Mohit Agrawal relief fund of ₹1 crore in the memory of the company’s Director of Engineering who died due to Covid-19.
- Byju’s formed a ₹20 crore fund to support Covid expenses of employees.
- Unacademy raised $1million Covid Fund to avail free vaccinations to employees and educators.
- JSW Steel is supplying 1000 MT of oxygen per day and plans to ramp it further.
- Reliance Industries is supplying 700 MT of oxygen per day and plans to scale it up to 1000 MT/day.
- Amazon India airlifted 8,000 oxygen concentrators and 500 bi-level positive airway pressure (BiPAP) machines from Singapore.
- ITC Ltd airlifted 24 cryogenic ISO containers, 20 tonnes each from Asian countries. It is also setting up a 200 bed medical facility in Kolkata.
- Adani Group imported 4 cryogenic tanks with 80 MT of liquid oxygen from Saudi Arabia.
- ArcelorMittal Nippon Steel India is supplying 200 MT of liquid oxygen per day to Gujarat. They have also set up a 250-bed Covid hospital in Hazira in collaboration with the Gujarat government.
Tata’s No Limit Covid Care
Tata Trust’s Chairman, Ratan Tata and Tata Group’s Chairman N Chandrasekaran directed to have no limit in Covid funding. The group and trust have collectively pledged ₹2000 crore to date for Covid Care.
Major initiatives include:
- Converting 1500 hotel rooms in Indian hotels to hospital beds.
- Tata Projects setting up labour camps with food and stay facilities for migrant workers.
- Tata Steel supplying up to 800 MT of medical liquid oxygen a day.
- Tata Trusts organising medical training programmes for volunteers.
- Collaborating with Linde to airlift oxygen containers from Singapore, China and Dubai to India.
- Shah Rukh Khan is the current brand Ambassador of Byju’s. Former co-founder of Facebook, Eduardo Saverin Invested $1 billion in Byju’s in April, 2021. The current evaluation of Byju’s is around $15 billion.
- Originally Zomato was known by the name of “FoodieBay”. The name of Zomato is a wordplay around the word Tomato.
- Flipkart was founded by former Amazon employees Sachin and Binny Bansal in October 2007. In 2018, Walmart bought 77% stake in Flipkart for $16 Billion.