Tata Sons, the parent company of several prominent Indian businesses, has made a significant announcement in the realm of corporate social responsibility. The conglomerate has set up a ‘Memorial and Welfare Trust’ with a contribution of Rs 500 crore to support the families of those who lost their lives in the Air India Express flight that crashed in Kerala last year.
The trust, which is expected to be completed by the end of FY2025-26, will provide vital financial assistance to the affected families. This initiative is a testament to Tata Sons’ commitment to philanthropy and its dedication to supporting those in need. The company has a long history of giving back to society, and this move is a shining example of its corporate social responsibility efforts.
In a related development, Tata Communications has collaborated with Amazon to establish an advanced AI-ready network in India. This initiative is expected to provide express routes with ultra-low latency, supporting seamless compute-intensive workloads for next-generation AI and ML applications. The network will also enable businesses to leverage the power of AI and ML to drive innovation and growth.
The Indian IT sector has been facing challenges in recent times, with many companies reporting modest revenue growth. Tata Consultancy Services (TCS), India’s largest IT services exporter, recently reported a net profit of Rs 12,760 crore for Q1 FY26, marking a 6% year-on-year (YoY) increase. However, revenue growth remained modest, rising just 1.3% YoY to Rs 63,437 crore. CEO K Krithivasan acknowledged the
Originally published on https://www.businesstoday.in/india/story/tata-sons-sets-up-rs-500-cr-memorial-and-welfare-trust-for-ai-171-crash-victims-485341-2025-07-18
