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Tata Steel Selected as Most Admired Indian Company
03/15/2012 - Tata Steel topped the list of India's 50 most-admired companies in a survey conducted by Fortune India and global management consultancy Hay Group.
Tata Steel topped the list of India's 50 most-admired companies in a survey conducted by Fortune India and global management consultancy Hay Group.
“For Tata Steel, the primary purpose of business is to improve the quality life of the people,” said Mr. H M Nerurkar, Managing Director, Tata Steel, commenting on the findings of the survey. “This has been the beacon that has guided Tata Steel in all its activities for over a hundred years. We are constant in our pursuit of improvements in key areas that impact our business - innovation, talent management and, most importantly, community development.
“We are delighted with this recognition and this will further invigorate us to continue with, and improve upon, the tasks that we have undertaken,” added Nerurkar. “We are particularly thankful to all our employees for making this journey a success”.
Preparation of Fortune India and Hay Group's top-50 most-admired Indian companies was based on a survey of 507 executives across 291 companies carried out from October 2011 to January 2012. Various factors were taken into consideration for the rankings, including corporate governance, financial soundness, leadership, talent management and corporate social responsibility. In developing the list, companies were categorized into 15 industries based on various factors including size, contribution to national GDP, growth rate and national presence.
In addition to being named to the list of India’s most-admired companies, Tata Steel has also been recognized with a number of other awards for both sustainability and performance space. Recent awards have included CNBC Asia's Corporate Social Responsibility Award, CII ITC Sustainability Prize 2011, and NDTV Profit Business Leadership Awards 2011
Established in 1907 as Asia's first integrated private sector steel company, Tata Steel Group is amongst the largest steel manufacturers in the world with an annual crude steel capacity of over 27 million tonnes per annum. 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$ 26.64 billion in FY '11, has over 81,000 employees across five continents. 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.
