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Tech Mahindra launches social foundation

Tech Mahindra launches the Tech Mahindra Foundation as a vehicle for furthering its social corporate responsibility.

business Updated: Jun 13, 2007 19:58 IST

Leading technology firm Tech Mahindra on Wednesday launched the Tech Mahindra Foundation with the aim of furthering its social corporate responsibility especially its goal of upliftment of the underprivileged sections of society, especially children and women, through education, the company said in a release.

To begin with, the foundation will have an initial corpus of Rs 250 million (Rs 25 crore) that has been raised entirely through contributions by the company and its employees. The foundation is assured of sufficient funding in future as the company has committed to contribute upto two percent of its net profit, the company said.

Speaking on the occasion Mahindra Group Chairman Keshub Mahindra said: "The launch of Tech Mahindra Foundation is a very special day for all of us. The Mahindra Group defines corporate social responsibility as making socially responsible products, engaging in socially responsible employee relations and making a commitment to the community around it. At the Mahindra Group, Corporate Social Responsibility is not just a duty; it's a way of life".

BT Group CEO Ben Verwaayen, who was also present at the launch, called the foundation a step in the right direction, saying social responsibility had always been an integral part of Mahindra Group's vision and a cornerstone of its exemplary corporate citizenship.

"We have always taken our responsibility to the society seriously and believe that making corporate social responsibility part of customer experience is common sense. One of the key elements of BT's programme is sustainable development and I am glad to see the same passion between Tech Mahindra's and BT's community programmes."

Tech Mahindra's CEO and Managing Director Vineet Nayyar praised the company's employees for their dedication and enthusiasm towards corporate social responsibility and said the Foundation would channel the work "that we have been doing over the years".

Tech Mahindra said the foundation aims to work towards its ultimate vision of developing world class human resources by creating and supporting programmes that will bring about sustainable changes in the lives of the less privileged and socially disadvantaged, especially children and women.

It has already forged partnerships with a clutch of voluntary groups based in Maharashtra and Delhi, including Akanksha, Anawa, Godhuli and Voice, for promoting its educational programmes among children. It plans to rope in more such partners in future, the company release said.