Tata Steel has received the Golden Peacock Award for 2002 for the outstanding achievement for Excellence in Corporate Governance and Corporate Social Responsibility in the private sector category. This award is given by the Institute of Directors, a non profit apex association of company directors, which works for improving competiveness of Indian Business.

The award was presented on 14th February at Mumbai by Justice A.M Ahamadi, former Chief Justice of India and was received by Mr.R.C.Nandrajog, Vice President (Finance). on behalf of Tata Steel.

Tata Steel is a leader in Corporate Citizenship and has for long supported and championed the cause of Education, Environment, Poverty alleviation, Population Control etc. Even before the Steel Company was formally set up in 1907,J.N.Tata, the Founder had clearly laid down the values and philosophy which guided the company's policies on ethical business practices and social responsibility, that extend well beyond its business mandate. Tata Steel is committed to returning to the community the resources that it takes for its business processes, thus a considerable part of its profits are earmarked for uplift of the communities near its operation with the objective of improving the quality of life of the people. Some of the welfare and social initiatives taken by Tata Steel were launched well before they were implemented by the Government. The socially welfare activities carried out by Tata Steel includes rural development, tribal welfare, local community initiatives, family health and population control, AIDS awareness, encouraging youth in sports and providing sports facilities and providing relief in any part of the country at the time of national calamity. Tata Steel is the only Indian company to have pledged to translate the Global Compact principles on human rights, labour and environment into practice.