Saturday, April 23, 2022

On Wednesday, Indian steel giant, Tata Steel announced it was cutting all business ties with Russia. This made Tata Steel the latest multi-national company to stop business with Russia following the Russian invasion of Ukraine.

A spokesperson from the company’s European division, Tata Steel Europe, said in a statement it “does not have any operations or employees in Russia”.

The company added, its steel manufacturing units in India, the United Kingdom and the Netherlands had arranged for raw materials to be sourced from elsewhere ending its dependence on Russia.

With the announcement, Tata Steel became one of the few Indian companies to halt business activities in Russia. Last week, Infosys, India’s second largest information technology company announced it had stopped its operations in Russia.

The Indian Government has not yet condemned the Russian invasion by taking a neutral stand amid pressure from Western countries.