“Responsible capitalism”

Much in the news in London, Ratan Tata’s acquisition of Anglo-Dutch steelmaker Corus was preceded by the ‘FIRST Award for Responsible Capitalism’ on December 3, 2006. Tata received the memento and citation at the hands of Princess Anne, at Marlborough House, noted India Digest (December 15, 2006). A publication of the High Commission of India in London, the issue was forwarded to Parsiana by Zoroastrian Trust Funds of Europe trustee Rusi Dalal.

"Ratan Tata has demonstrated how it is possible to combine being an extremely successful leader of highly innovative companies with social responsibility and concern for the environment and the well-being of local communities in which those companies operate around the globe. He receives the award at a particularly appropriate moment in the relations between the United Kingdom and India,” Lord Woolf, former Chief Justice of England and chair of the judging panel, is cited in the publication.

Ratan Tata receives award from HRH Princess Anne, Princess Royal

The award was initiated in the year 2000 by FIRST to honor business leaders who have attained commercial success with full concern and acceptance of social responsibility. As the organiza­tion’s chairman Rupert Good­man noted, "We at FIRST believe that commercial success can be assessed in terms of standard criteria, but that social responsibility involves a greater sense of the needs of the wider community as well as shareholders, a special interest in the well-being of groups in need, care for the areas in which the business operates, environmental initiatives and support for the arts and culture.” Tata became the eighth head of an international organization to be so honored.

"Ratan is one of 25 internationally renowned entrepreneurs (like Bill Gates and others) who have the special status of being advisors to the Government of the UK on trade and industry,” adds Dalal in his e-mail.

Arnavaz S. Mama