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Tatas adopt uniform code of conduct

Tatas adopt uniform code of conduct

The Tata Group has formally adopted a 'Tata code of conduct' in seven of its major companies.

Tata Group chairman Ratan Tata signed the code of conduct on December 18 with officials from TISCO, TELCO, Tata Tea, Tata Chemicals, the Tata Electric Companies, Tata International, and Tata Industries.

A similar agreement was signed with the divisions of Tata Sons. Together, these companies and divisions represented 66 per cent of the group's turnover in 1997-98, a Tata Group release today said.

Speaking at the signing ceremony, Ratan Tata said formalisation of the code of conduct is a testament to the value the group attaches to its assets and determination to aid in every way the group's companies and employees to understand where their duties lie in any situation.

Tata also signed the brand equity and business promotion agreement. The agreement is a response to the new edge in the competitive environment following the liberalisation and increasing globalisation of the economy.

More companies are expected to sign the code of conduct and brand equity/business promotion agreements.

The seven companies that signed the agreement are all principal companies which have the word 'Tata' in their name. Other major group companies which are principal companies but do not use the word 'Tata' in their name will be signing the agreement shortly.

The principal companies will then initiate the process of inviting affiliated companies to sign the twin agreements with Tata Sons. The process is expected to be completed in 1999.

UNI

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