xer-files
Thursday, May 25, 2006
  About 2.8 per cent of India's GDP
Stolen for Steel: Tata Takes Tribal Lands in India
by Nityanand Jayaraman, Special to CorpWatch


Jug-ger-naut n [Hindi Jagannath, lit., lord of the world, title of Vishnu] 1: a massive inexorable force or object that crushes whatever is in its path.
-Webster’s Dictionary-

-- Tata Steel, one of the country’s largest firms has been in the forefront of India’s industrialization and an engine of growth. It is part of Tata Group, a prestigious, family-owned Indian multinational with 2005 revenues of $17.8 billion, the equivalent of about 2.8 per cent of India's GDP. The company’s website claims that the Tata Group employs about 215,000 people, operates in 40 countries, and markets to 140 nations. About 66 percent of its equity is held by two family-run philanthropic trusts. One of them, the Dorabji Tata Trust is the largest grantmaker to NGOs in the country, surpassing even the mega-funder Ford Foundation. Ratan Tata, the chair of Tata Sons – the holding company – sits on the Ford Foundation’s board. --


 
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