In the lead-up to the 2024 Lok Sabha elections, the Bharatiya Janata Party (BJP) received a substantial portion of its funding through electoral trusts, with a significant contribution originating from the Tata Group. According to disclosures made to the Election Commission, the Tata Group, via its controlled trust, donated ₹758 crore to the BJP out of a total of ₹915 crore disbursed through 15 firms. This contribution made the Tata Group the biggest donor to the BJP, surpassing any political donations made between 2023 and 2024.

The Progressive Electoral Trust, controlled by the Tata Group, emerged as the top donor to the BJP in the financial year preceding the 2019 Lok Sabha elections as well. The trust contributed ₹356 crore to the BJP in 2018-19. The BJP's list of donors included various corporate houses and businesses across the country.

The donation from the Tata Group to the BJP occurred weeks after the Modi cabinet approved Tata Group-led semiconductor units with a subsidy of ₹44,23 crore. In February 2024, the Union cabinet approved three semiconductor units as part of the government's initiative to develop a domestic semiconductor industry, with two of the units being led by the Tata Group. The center agreed to cover half the cost of building these units.

While the timing of the donation has raised questions, it remains unclear whether there is a direct link between the cabinet's approval of the semiconductor units and the subsequent financial contribution to the BJP.

In 2018-19, the Tata group donated ₹478 crores in totality to political parties, out of which donation to BJP was significant. Other entities, such as Prudent Electoral Trust (including contributions from DLF Limited, Bharti Airtel, GMR Airports, DCM Shriram Ltd. and Jubilant Foodworks Limited) and New Democratic Trust (funded by three Mahindra companies), also contributed to the BJP.

It's important to note that these disclosures do not include funding received through electoral bonds. Electoral bonds worth ₹6,128 crore have been sold since the scheme was introduced in 2018 till October 2019. The Association for Democratic Reforms (ADR) reported that the BJP had received the majority of electoral bonds sold.