News Release Details

IndianOil and National Sports Development Fund Signs MoU for the ‘IndianOil - Shakti’ Project to Empower Budding Female Athletes
New Delhi   14-Mar-2024

A memorandum of understanding was signed today, between IndianOil Corporation Ltd. (IndianOil) and National Sports Development Fund (NSDF) for the "IndianOil Shakti Project," an ambitious initiative under IndianOil’s Corporate Social Responsibility (CSR) program, aimed at nurturing and empowering young female talent in athletics. The project, set to commence in the financial year 2024-25, is dedicated to supporting 30 female athletes under the age of 23 in middle and long-distance running categories. IndianOil has committed a financial support of nearly ₹16 crores over 36 months to the NSDF. The project will be implemented in collaboration with the National Sports Development Fund (NSDF), with the Sports Authority of India (SAI) playing a pivotal role.

The MoU signing ceremony for the IndianOil Shakti was held in the presence of Mr Pankaj Jain, Secretary, MoP&NG, Ms. Sujata Chaturvedi, Secretary (Sports), Mr S M Vaidya, Chairman, IndianOil and senior Officials from National Sports Development Fund (NSDF), Sports Authority of India (SAI) and IndianOil.

Speaking on the occasion, Mr. Pankaj Jain highlighted "IndianOil's engagement with sports extends beyond the IndianOil Shakti Project, positioning itself as a cornerstone in the Petroleum Sector Sports Promotion. This initiative not only champions athletes within the Public Sector Oil & Gas firms but has also seen IndianOil's employees attain glory as medallists and participants in prestigious events like the recent Asian Games. Their dedication to nurturing talent is evident through the support of coaching centres across various sports disciplines, significantly contributing to India's sports infrastructure.”

"IndianOil's endeavors, which extend well beyond their Corporate Social Responsibility (CSR) initiatives, are truly commendable. Their holistic approach to supporting sports, environmental conservation, particularly through its sole sponsorship of Project Cheetah, and cultural heritage, through assistance in preserving India's historical legacy showcases a model of corporate responsibility that is both admirable and exemplary", he added.

In her address, Ms. Chaturvedi expressed gratitude to IndianOil for the unwavering support towards fostering sports, emphasizing the significant strides yet to be made, particularly in women's sports. She highlighted the growing expectations spurred by recent sporting triumphs and the anticipation for India's bolstered representation in the global sporting arena.

Speaking about IndianOil Shakti project Mr S M Vaidya, Chairman, IndianOil said “At IndianOil, we believe in the transformative power of sports to inspire, unite, and pave new pathways for youth. Through this initiative, we aim to empower young female athletes, providing them with the resources and support they need to excel both nationally and internationally. This project reflects our CSR vision to contribute meaningfully to the socio-economic development of our nation by supporting budding talent at the grassroots and making India a sporting powerhouse. We take immense pride in fuelling the aspirations of India's future sporting stars and reinforcing our nation's position on the global sports map.”

The IndianOil Shakti Project not only focuses on enhancing the athletic performance of these young women but also emphasizes the importance of sports science, nutrition, and international exposure to prepare them for competing at the highest levels globally. This comprehensive support system is designed to elevate India's standing in athletics on the international stage. The athletes will be supported in middle and long-distance running categories including the 800m, 1500m, 3000m steeplechase, and 5000m. This project underscores IndianOil's dedication to fostering sporting excellence and empowering women in sports, reflecting the company's broader vision of social responsibility and national development.

Shyam Bohra
Executive Director (Corporate Communications & Coordination)
Indian Oil Corporation Limited