Global corporate titans step in to ease India Covid crisis
● As Indian authorities and hospitals struggle to cope with record Covid-19 infections and deaths, companies ranging from the nation’s biggest conglomerate to global giants like Amazon.com are stepping in to help ease the crisis.
Reliance Industries, controlled by Asia’s richest man, Mukesh Ambani, the Tata group, global drug giants like Gilead Sciences and technology titans such as Alphabet are rushing in supplies and funds. Blackstone Group’s chair, Stephen Schwarzman, said his private equity firm is committing $5m (R71.6m) to support Covid relief and vaccination services in India.
With haunting visuals of mass funeral pyres and long lines of ambulances outside overcrowded hospitals, and desperate pleas on social media for oxygen canisters, the unfolding tragedy is prompting some of the biggest corporations to organise aid. India’s federal and state governments, grossly unprepared to tackle the latest coronavirus wave, have also encouraged the non-state sector to help narrow the vast chasm of shortages.
Most critical has been the unavailability of medical oxygen, and a bulk of the efforts have been directed at boosting supplies. Reliance, Tata Steel, ArcelorMittal Nippon Steel India and JSW Steel are among the manufacturers that have diverted thousands of metric tons of liquid medical oxygen from their plants. Others, such as consumer giant ITC and the Adani Group — controlled by India’s second-richest man, Gautam Adani — are shipping in cryogenic tanks, and offering portable concentrators and generators.
“Saving lives is more important than producing steel,” said Sajjan Jindal, chair of JSW Steel.
State-owned refiners Indian Oil and Bharat Petroleum chipped in with oxygen production.
As the enormity of India’s challenges shook the world, Indian-origin technology industry czars have extended help. This week, Silicon Valley investor Vinod Khosla tweeted an offer to fund public hospitals and import planeloads of bulk oxygen or supplies to India to improve stocks. Microsoft CEO Satya Nadella said he was “heartbroken” by the situation in India, and Microsoft is using its voice, resources and technology to aid relief efforts.
Alphabet CEO Sundar Pichai said in a tweet that Google and its employees would rush medical supplies and support non-profits. His company has proffered some $18m in funding.
Amazon is harnessing its global logistics supply chain to airlift 100 ICU ventilator units from the US, and the equipment will reach India in the next two weeks, the company’s local chief, Amit Agarwal, said in a blog post.
Apple CEO Tim Cook said the iPhone maker would donate relief but didn’t provide details. — Bloomberg
‘Saving lives is more important than making steel’