What India is going through right now is the toughest phase of the pandemic in the country. It’s arguably the toughest challenge the country has faced since 1947, when India became independent. And while some people might be focused on diagnostics and blame, I think right now is a time for empathy and action. It’s a time to have determination and hope.
Although everyone should have India in their thoughts at the moment, the crisis hits close to home for us. We have a lot of colleagues across Goldman Sachs in India, including many who are part of the Marcus by Goldman Sachs team. Some of the Marcus customers probably have friends and family in India as well. The stories we are hearing from folks on the ground are very tough. I want to say this to all of our colleagues in India: We are all with you. We are here for you. And we are coming together as one organization and one team to see how we can best support our colleagues and the community as a whole.
For our people in India, we are expanding our wellness initiatives to support them in this time of need. Beyond this, the firm has been trying to go out of its way to help each individual person and their families. That’s something we are very proud of.
I also want to highlight some of the positives and mention that our teams in India have shown tremendous resilience. Of course they are taking care of themselves and their families, but they are also taking care of extended family, friends and their communities. And while we are facing this crisis in India, our teams in other parts of the world have stepped up to help their colleagues in India, while also seamlessly continuing to forward our business priorities.
I’m also proud of what the firm is doing at an organizational level. We’ve committed $10 million to support relief and recovery efforts in India, which is home to three Goldman Sachs offices, Bengaluru, Hyderabad and Mumbai – and thousands of our people. The funding will be used to address three critical areas:
This is in addition to the $42 million Goldman Sachs has already committed to more than 300 nonprofits across 31 countries through its Covid-19 Relief Fund.
For those of you reading this and wondering if there’s anything you can do, start with empathy. Check in with your friends, family and colleagues to see how they are doing, what they need. And it’s OK to ask about the positive things, too – it helps us stay positive and move forward. And if you want to take action, we’ve included a list of nonprofits that Goldman Sachs has identified that could use help.
I think the true character of an organization and a team comes through in a time of crisis, and our team has been putting their best foot forward. There have been so many times in my career when I have felt so proud to be a part of Goldman Sachs, and this is one of them.
We are all in this together, and we will all get through this together.
Harit Talwar, Chairman of Consumer
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