PSEs to play key role in decarbonizing efforts, tackling emissions : OIL Chair at CII PSE summit

Leading in terms of net zero, Public Sector Enterprises (PSEs) are doing their best to ensure their business operations decarbonize effectively and are tackling emissions, said Dr Ranjit Rath, Chairman and Managing Director, Oil India Limited during the Plenary Session on ‘India’s Path to a $5Tn Economy: Role of PSEs from Legacy to Catalyzing the Future’ at the CII PSE Summit in New Delhi on 14 November.

He added that PSEs have a responsibility of not only running a business but doing so with the intent of serving social commitments. “The collective procurement of PSEs has a huge bearing on the Indian economy. Whether it is for oil & gas, steel, coal, or large-scale equipment, PSEs not only facilitate the manufacturing ecosystem of the country but also encourage young entrepreneurs to think big and scale up their businesses,” said Dr Rath.

Mr Ajit B Chavan, Additional CEO, Government-e-Marketplace (GeM) stated, “Of the Rs 10 lakh crore business that we have done since 2016 on the platform, almost 39 per cent has gone to the MSEs, promoting homegrown small industries.” He added that the GeM portal has brought at least 10 per cent worth of savings to the Government, which can be directed to other social development programs.

Almost 1.6 lakh women-led MSEs and 27,000 startups are doing business on GeM portal and the platform aims to increase this number to 1 lakh startups. All DPIIT-registered startups would be enrolled on the platform, he added. This year, Rs 5-6 lakh crore worth of procurement are expected to be done through the portal, Mr Chavan said.

Mr Rajarshi Gupta, Managing Director, ONGC Videsh Limited called on PSEs to focus on skill development, AI & digital and industry-academia collaboration. “AI and digital is the biggest opportunity for all of us. We also need to have more industry-academia collaboration to not only solve operational problems but also to do more research,” he said.

He informed that ONGC has set a target to achieve net zero operational emissions for 2038 and set aside a budget of USD 24 billion.

Ms Vartika Shukla, Co-Chair, CII PSE Council and Chairman & Managing Director, Engineers India Limited underlined the need for PSEs to look at sustainability and innovation as part of their decision-making, investments and transformation. “PSEs have added wealth and value in every sector including steel, power, atomic energy, and defence, etc. They have not only committed to providing technical expertise but also contributed socially,” she said and highlighted the contribution of PSEs in sustainability, supporting MSMEs and technology.

14 November 2024

New Delhi