Private sector company Tata Steel has announced it will close its business with Russia.
The move comes amid the Russia-Ukraine War. A company spokesperson said in a statement:
“Tata Steel has no operations in Russia and has no employees.
Private sector company Tata Steel has announced that it will close its business with Russia. The move comes amid a Russia-Ukraine war. A spokesman for the company said in a statement:
“Tata Steel has no operations in Russia and has no employees there.
We have decided to close our trade with Russia after careful consideration.
Tata Steel said in a statement that for the continuation of business, all of the company’s steel production plants in India, the UK and the Netherlands have arranged alternative supply of raw materials.
This has ended their dependence on Russia. The company has received limited quantities of coal from Russia for its various operations.
Infosys has also closed the business
In the past, the country’s leading IT company Infosys also announced the closure of its business with Russia. All European countries, including the US, are urging India and Indian companies to take action against Russia.
Many large companies are also withdrawing their business from Russia.
Now Tata Steel has become one of the few companies in the country to withdraw its business from Russia.
However, India’s stance on this whole issue is different. India has criticized the war everywhere in the United Nations but has abstained from voting against Russia.
Tata Steel buys coal from Russia
According to Reuters, Tata Steel imports coal from Russia to run its factory and make steel.
In addition to India, the company has steel factories in the UK and the Netherlands.
The company says that raw materials are being procured from alternative markets to keep the supply in these factories adequate.