India

India’s Tata Steel Halts Coal Imports from Russia

 

Tata Steel will become one of the few Indian companies to stop doing business with Moscow, announcing on Wednesday that it would cease importing Russian coal for its smelters.

India’s largest steelmaker by revenue said it did not have any operations or employees in Russia.

“We have taken a conscious decision to stop doing business with Russia,” the company said in a statement.

Tata Steel is among only a few Indian companies to halt business with Russia, even as India abstains from condemning the invasion and declining to impose sanctions on Moscow.

Western allies have called for India to speak out against the war.

All Tata Steel’s manufacturing sites in India, the UK and the Netherlands have sourced alternative supplies of raw materials to end its dependence on Russia, the company said.

Infosys, India’s No. 2 software services firm, said last week it would move business out of Russia.

 

  • Reuters, with additional editing by George Russell

 

 

READ MORE:

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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