Following the Infosys’ decision to stop doing business in Russia, Tata Steel’s European arm, has also opted to exit the Russian market due to the ongoing tensions between Russia and Ukraine.
In a statement, the company said, “Tata Steel does not have any operations or employees in Russia. We have taken a conscious decision to stop doing business with Russia.”
It further said, “To ensure business continuity, all our steel manufacturing sites in India, the UK, and the Netherlands have sourced alternative supplies of raw materials to end its dependence on Russia.”
TATA Steel is the latest company to join the list of several international companies that have made a conscious decision to exit business from Russia after invading Ukraine. Earlier, Indian multinational information technology company Infosys Ltd announced pulling out its business from Russia on April 13 as Moscow has not yet suspended its aggressive attack on Ukraine.
Among other global IT and software companies are: Oracle Corp and SAP SE, that announced suspension or halt of all operations in Russia.
“Seeing the situation, we have started the transition of our business and all of our work from the centers from Russia to outside Russia,” Infosys CEO and Managing Director Salil Parekh replied to the question on the impact of the Russia-Ukraine crisis on the company’s business in Putin’s country.
“We don’t have clients in Russia. The work we do in Russia is for the global clients, which we have started a transition. At this stage we have no impact on our business from an Infosys perspective,” Parekh said.
He emphasized that the company is worried about the development in the region. “We are very concerned about what’s going on, on the ground,” Mr. Parekh said.
Meanwhile, at a United Nations meeting on Ukraine’s humanitarian situation on Tuesday, India’s deputy permanent representative to the UN, R Ravindra, reiterated the country’s position on the Russia-Ukraine crisis.
“We have emphasized right from the beginning of the conflict the need to pursue the path of diplomacy and dialogue. When innocent human lives are at stake, diplomacy must prevail as the only viable option,” the diplomat said.
Russia began invading Ukraine on February 24, and even after 56 days, the war is on!
Thousands of people have lost their lives, loved ones, and homes due to the bombing and shelling from Russia on Ukraine.