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India’s Tata Steel becomes independent from Russia

India's Tata Steel becomes independent from Russia

“Tata Steel does not conduct operations and has no employees in Russia. We have taken a conscious decision to stop doing business with Russia,” a statement from India’s largest steel company said. She said steel mills in India, Great Britain and the Netherlands were turning to alternative sources of raw materials in order to “end dependence on Russia”. The company operates in 26 countries and has offices in 35 – also in Poland.

The Department of Concern, which is also one of the largest steel producers in Europe, confirmed that the Tata Steel Group has a plan thanks to which the decision to suspend business with Russia will not disrupt the work of steel plants. However, its details were not disclosed.

The decision to become independent from Russian steel came a few days after Infosys (INFY), one of India’s largest technology companies, announced that it had begun moving its operations outside Russia. – Taking into account what is happening in the region, we have begun to transfer all our activities from centers in Russia to a center outside Russia – Salil Parekh, CEO of Infosys for journalists.

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Steel is not the only raw material that Indian companies have restricted supplies from Russia. Previously, Indian Oli Corp. – The largest refinery in the country – Oil from beyond the Urals was excluded from the last bid. The reason is that it has a very high sulfur content. Four days ago, the Indian government postponed the purchase of 48 Mi-17V5 military transport helicopters ordered from Russia. More than half of the equipment used by the Indian Army comes from Russia.

Since the beginning of the war in Ukraine, India has not imposed economic sanctions on Russia. He also abstained from voting in favor of removing Moscow from the UN Human Rights Council.

Ewa Wisuka, Hindu

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INTERIA.PL/ Press materials

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