Tata Steel acknowledged as the most admired Indian company
~Reveals a survey compiled by Fortune India and Hay Group~
Tata Steel topped the list of India's 50 most-admired companies in a survey compiled by Fortune India and global management consultancy Hay Group.
Expressing his happiness on the findings of the survey, Mr H M Nerurkar, Managing Director, Tata Steel said: “For Tata Steel, the primary purpose of business is to improve the quality life of the people. 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. We are particularly thankful to all our employees for making this journey a success”.
The list of Fortune India and Hay Group's top-50, most-admired Indian companies has been prepared on the basis of a survey of 507 executives across 291 companies that was carried out from October 2011 to January 2012. Various factors including corporate governance, financial soundness, leadership, talent management and corporate social responsibility were taken into consideration for the rankings. To compile the list, 15 industries were selected on the basis of various factors including size, contribution to national GDP, growth rate and national presence.
Tata Steel has recently been recognized with other accolades in both the sustainability and performance space. A few prestigious awards include CNBC Asia's Corporate Social Responsibility Award, CII ITC Sustainability Prize 2011 and NDTV Profit Business Leadership Awards 2011
About Tata Steel:
Established in 1907 as Asia's first integrated private sector steel company, Tata Steel Group is amongst the leading steel manufacturers in the world with an annual crude steel capacity of over 27 million tonnes per annum (mtpa). 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 and is a Fortune 500 company. 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.