India Inc joins the race to vaccinate employees

Vedanta, Tata Steel and Jindal Steel and Power Limited are some of the major companies that have expressed willingness to vaccinate their employees.

Business Desk, ETV Bharat: As the frontline workers start getting the first dose of Covid-19 vaccine under the government sponsored initiative, India’s major corporates are eagerly waiting for the government’s nod allowing vaccine makers to sell the life-saving vaccine to private players.

For instance, appreciating the Union Health Minister Dr Harsh Vardhan for launching the world’s largest immunisation drive last Saturday, the Chairman of Vedanta Resource Limited, Anil Agarwal said: “Efficient deployment of vaccine to masses is key to secure well being of our citizens. As a responsible corporate, Vedanta will ensure all its employees are vaccinated soonest possible.”

Similarly, the home-grown Tata Steel, which has a commercial presence in over 50 countries around the world, expressed its willingness to vaccinate its employees once the vaccines are available.

"We will continue to work with the government and as and when further vaccines are made available, we would vaccinate our employees as per the guidelines," said a Tata Steel spokesperson.

In fact, some companies have gone a step ahead and started profiling their employees based on vulnerabilities.

Talking to PTI, Jindal Steel and Power Limited (JSPL) Chief Human Resource Officer said: "We are reaching out to vaccine manufacturers for bulk supply of doses and will try to get these doses after completion of all frontline COVID warriors' vaccination. The company has already categorised employees in order of vulnerability, so the ones above the age of 50 years and those who were infected from COVID-19 can be vaccinated first.”

Around Rs 1,000 per dose

While the reports suggest that the government is procuring the Serum Institute of India’s (SII) Covishield at Rs 210 (including the GST) per dose and Bharat Biotech’s Covaxin at Rs 206 per dose, the cost of the same vaccines are likely to be at least five times more in the open market.

"We have given a special price of Rs 200 for the first 10 crore doses only to the Government of India on their request because we want to support common man, vulnerable, poor and healthcare workers. After that, we will be selling it at Rs 1,000 in private markets,” said SII Managing Direct Adar Poonawala to ANI.

Using CSR funds for vaccinating employees

To encourage private companies in extending vaccination support to employees, industry associations have urged the government to approve using corporate social responsibility (CSR) funds for vaccinating employees and their families.

“Permit companies to utilize their CSR funds for inoculation of their own employees, while also supporting them for inoculation of population in their vicinity, wherever possible,” FICCI suggested the government in one of its reports prepared in collaboration with EY.

As per experts, this move will help many firms in fulfilling the legal obligation of spending two per cent of net profit for social welfare under the Companies Act.

(With Inputs From Agencies)