A lot of reorientation is happening currently. Government has revamped the dispute resolution mechanism for CPSEs to reduce litigation and unblock public money. “We focus on strategic disinvestments, as part of which, 19 CPSEs have been brought to closure by now. We are focused on reducing non-viable companies now”, said Smt. Seema Bahuguna, Secretary, Department of Public Enterprises.
Ms Bahuguna said this while addressing the CII Annual session 2019 today which was themed around India 5.0: India@75 and beyond.
“CPSEs have played an important role in key sectors and have helped in creating employment. It is imperative for them now to reinvent themselves and become competitive through fast decision making.”
From 9 CPSEs in 1951 to 257 operating CPSEs today, the PSEs have not only become a part of the important journey towards the new India but will drive India 5.0 and beyond. At a time when India is preparing to become a 5 trillion dollar economy, it has become imperative for CPSEs to adopt technology, expand global outreach, have greater R&D focus and benchmarking, the Secretary said.
CPSEs are also playing a stellar role in CSR, with 110 CPSEs contributing 30% of the total CSR spend. As the roadmap for next few years, the PSEs will focus on addressing the key challenges including increasing geo-statistics, enhancing export capabilities and reducing imports.
Going forward, the government, in next few years will focus on supporting start-ups, enhancing CSR activities and developing CPSE to CPSE collaboration in order to identify new work areas, the Secretary added.
Speaking on the occasion, Dr Nalin Shinghal, CMD of Central Electronics Ltd. (CEL) said, the PSEs can drive India 5.0 by focusing on Research and Innovation, creating enabling structures and aligning the interests of the PSEs and bringing all the PSEs to work together.
Mr Saptarshi Roy, Director, NTPC highlighted the changing narratives of the PSEs. PSEs will make their way forward by making investment in technology, strengthening processes and systems, responding to market needs with increased efficiency and by focusing on the people and leadership in PSEs.
Rear Admiral A K Verma (Retd), Ex-Chairman & Managing Director, Garden Reach Shipbuilders & Engineers Ltd emphasized on the right mindset which is needed to make PSEs more efficient. PSEs not only need to feel themselves autonomous but also need to start engaging more startups and strengthen Public Private Partnerships for increasing their productivity.
Mr Sabyasachi Kar, Professor & Head Development Planning Centre, Institute of Economic Growth talked about getting over the mindset of privatizing the PSEs and bringing balance between private and public sector institutions, in order to make both of them equally ready for the technological revolution happening through industry 4.0.
Moderating the session, Mr Tarun Das, Former Chief Mentor, CII and Chairman, Institute of Economic Growth complimented the Public Sector enterprises for meeting obligations at varied levels including socio-political, ecological and technological areas.
5 April 2019