Business ethics

"We do not claim to be more unselfish, more generous or more philanthropic than others, but we think, we started on sound and straightforward business principles considering the interest of the shareholders, our own health and welfare of our employees... the sure foundation of our prosperity" J.N. Tata

A strong focus on Value Creation and Corporate Citizenship has helped the Tata Steel Group build an enviable corporate reputation founded in honest and transparent approaches. The values and principles, which have Governed Tata Steels business for a century, have been deployed through the implementation of the Tata Code of Conduct ( TCOC, often referred to as the 'Code' ), which was first formally articulated in 1998. This was intended to serve as a guide to each employee on the values, ethics and business principles expected of him or her in personal and professional conduct. The Management of Business Ethics is effectively instituted today in Tata Steel through its four pillars concept.

Leadership System and Processes Training and Awareness Measurement

In 2008, in line with changing times and the globalisation of the Tata Group, the Code was updated in consultation with group companies around the world. The revised Code of Conduct was adopted by the Tata Steel Group Board in October 2008. It addresses contemporary issues of concern for global business along with the importance of implementing a sustainability protocol. ll employees have a clear responsibility to implement the Code. Additionally the Code now extends to contractors and vendors, who must agree to respect it. The systems and processes are revisited and modified constantly to ensure that they are not subjected to unethical practices. The Communications function of Tata Steel Group has been of supreme importance in connecting and building relationships of trust within the organisation and outside and in reflecting the aspirations and goals for the future. The senior leadership team in the Company is actively engaged in communication on business ethics at various levels and forums. The Company does not ever hesitate to take visible disciplinary actions when
- Comply with all applicable laws and regulations of all the relevant regulatory and other authorities as may be applicable to such Directors in their individual - Always act in the interest of the company and ensure that any other business or personal Code of Conduct for Non-Executive Directors Non-Executive Directors of a company will :

association which they may have, does not involve any conflict of interest with the operations of the company and his role therein.

necessary and no violation of TCOC, however insignificant, is capacities. ever tolerated. The aim is to strengthen employee involvement in a positive and regular manner and enhance the sense of - Safeguard the confidentiality of all information accountability.
received by them by virtue of their position.

July is celebrated as Ethics Month every year, with numerous programmes and activities. The effectiveness of all initiatives is measured by various internal and external surveys and the result of these studies are proactively incorporated in the existing system.

Value Polices ::::: The values of Tata Steel have been embedded integrally into the Group's century old tradition and continue to be a pointer to the way the Company conducts all its business activities.

Tata Steel has for many years planned its operations and development in adherence to clear statements of vision and value-oriented guiding principles. The five core values of the Company guide and drive business decisions, building on the Group's beliefs and convictions from the earliest days. It is a legacy that has earned the Company the complete trust of millions of stakeholders across the world and a reputation that has only improved over the years.

Trusteeship Integrity Respect for Individual Credibility Excellence

Ethics policies :::::Tata Steel upholds the importance of a fair and transparent approach in everything it does by adopting the highest standards of professionalism, honesty, integrity and ethical behaviour in all its business processes and transactions.

Committed to following the principles of fair practice and business ethics to the core, Tata Steel has adopted the Tata Code of Conduct, which lays down the principles and standards that should govern the actions of the Company and the employees. A number of relevant policies have also been formulated and implemented towards the practical application of TCOC.