Torrent Group commits ₹5,000 cr. in culture and social services

Gujarat-based Torrent Group has committed ₹5,000 crore in next five years starting from April 1, 2024 for charities in the field of healthcare, education, ecology, arts and culture and social services as the group is celebrating the birth centenary of its founder U.N. Mehta. 

Gujarat-based Torrent Group has committed ₹5,000 crore in next five years starting from April 1, 2024 for charities in the field of healthcare, education, ecology, arts and culture and social services as the group is celebrating the birth centenary of its founder U.N. Mehta. 

One of the largest business groups based in Ahmedabad, nearly ₹40,000 crore Torrent Group has presence in power, gas distribution, pharmaceuticals and diagnostics sectors across the country. 

On Sunday, the group helmed by Mehta family, announced commitment of ₹5,000 crore to the UNM Foundation, the charity arm of the group. 

As per the announcement, the Mehta family will over the next five years, commencing from April 1 2024, donate a sum of ₹5,000 crores to the UNM Foundation. This contribution will be over and above the statutory Corporate Social Responsibility contributions of the Torrent Group companies.

“The UNM Foundation will make sincere endeavors to utilise this amount for unique social causes; without any beneficiary barriers of caste, religion, gender and economic strata,” Samir Mehta, chairman of the group, said 

He further stated that the UNM Foundation would focus its efforts on the areas of healthcare, education, knowledge enhancement, ecology, social well being, arts and culture and other activities that may serve the basic premise to benefit the underprivileged.

Talking about his father, Mr. Mehta said that his U.N. Mehta had an extremely troubled childhood as he had lost his mother when he was just two and grew up in a poverty-stricken family.