Tata Trusts to spend ₹750 crore on social plans
Tata Trusts, which controls 66% of Tata Sons, the holding company of the group, will invest around ₹750 crore annually in social schemes.Updated: Oct 18, 2016 13:49 IST
Tata Trusts, which controls 66% of Tata Sons, the holding company of the group, will invest around ₹750 crore annually in social schemes.
“Our annual spending is close to ₹750 crore … we spend almost whatever dividend we get from the parent company. Our ability to increase (investments) in the future will increase,” said R Venkataramanan, managing trustee of the Sir Dorabji Tata Trust and the man responsible for the management and oversight of all Tata Trusts, led by Ratan Tata.
The trusts would look to partner with “like-minded” organisations to improve the quality of life, particularly in rural areas, he said.
Currently, around 25-30% of their spending is on healthcare, wherein, apart from cancer care and research, the trusts are focusing on maternal and child health.
On Monday, Tata Trusts announced a partnership with GE Healthcare to train 10,000 youths in technical areas of healthcare over three years to bridge the skill gap.
GE Healthcare Education Institute will develop the courses for people wanting to graduate as technicians in x-ray, radiology, medical equipment, operation theatre and cardiac care departments, and as diabetic education counsellors.
Currently, GE plans to scale up from 10 institutes to 25. Upon qualifying for the course, 10,000 candidates will get loan scholarships from Tata Trusts.
In August, the Tata Trusts and the Global Fund joined hands to launch the India Health Fund to tackle diseases like malaria and tuberculosis.
“The Tat a Trusts are committed to creating prosperity, to healthcare and to saving lives. You are doing something different not just to make money or create headlines, but to save lives ,” said Ratan Tata, chairman of Tata Trusts.
Tata Trusts are also investing in projects aimed at rural and farm upliftment, which now accounts for about 40% of its overall portfolio.
“For rural prosperity, we are working on rice intensification, diversion-based irrigation among farming communities,” said Venkataramanan.