~Mr. B Muthuraman, Managing Director, Tata Steel receives the award from the Honourable Prime Minister of India and attributes it to the employees of the Company~

Tata Steel received the Economic Times Company of the Year Award at a function organised in Mumbai on January 18. This prestigious award was received by Mr. B Muthuraman, Managing Director, Tata Steel by the Honourable Prime Minster of India, Dr. Manmohan Singh. This award is a recognition of Tata Steel as a company that has consistently set clear performance benchmarks for the rest of the industry and has striven to become a world leader.

While accepting the Award, Mr. B Muthuraman attributed the success of Tata Steel to its employees. "It's a great pleasure to accept this award on behalf of the 100,000 people of Tata Steel, present and past. They have demonstrated oneness, ethical governance and trust, the cornerstone for sustainability of corporate India. This award is a recognition of what Tata Steel has done in the last 100 years rather than the recent economic performance. I feel great to accept this award from the honorable prime minister, who had laid the foundation stone of our current economic growth 17 years back."

Tata Steel and Reliance Industries (RIL) ended up as the closest contender and all jury members were full of praise for the achievements of both the companies. To break the tie, the jury opted for a voting by secret ballot where the eight jury members ticked off their choices on their voting sheets and Tata Steel was eventually voted as ETs Company of the Year.

About Tata Steel

Established in 1907 as Asia's first integrated private sector steel company, Tata Steel Group (including Corus) is the world's sixth largest steel producer with a crude steel capacity of over 28 million tonnes. It is now the world's second most geographically diversified steel producer, with operations in 26 countries and commercial presence in over 50 countries. The Tata Steel Group with a turnover of USD 33 billion in 2007-2008 has over 82,700 employees across four continents. It is a proud winner of the Deming Application Prize for excellence in quality processes and the only steel plant outside Japan to be awarded this prestigious medal.