DPE, CPSEs were in sync to materialize PM’s Vision 2022 in making a New India through integrating and innovating technology and increasing geo strategic reach, minimizing the country’s import bill and creating a new development model for Indian PSEs. This was the outcome of the CII PSE Summit which was further reflected in the two reports released at CII PSE Summit held today in New Delhi.
Reiterating this, Shri Sailesh, Secretary, Department of Public Enterprise, said: “The performance of CPSEs has been stellar and their outreach is big. Their value, even by small margin globally, contributes majorly to the country’s GDP. CII’s 10 Centres of Excellence ranging from leadership, logistics, energy, green building, water can really help PSEs become competitive and increase their profits substantially, said DPE Secretary.
“Increasing competitiveness is the cornerstone of better performance. Capitalising on new market opportunities, making technology advancements, maximizing geostrategic reach and expanding exports are important aspects that PSEs need to vigorously pursue and the Government is working actively to help the PSEs to be globally competitive,” said DPE Secretary.
Speaking at the occasion, Shri R K Chaudhary, Additional Secretary, Department of Public Enterprise, said “I am a firm believer in PSEs and these entities not only drive flagship programmes of the Government but also employ 1 million people while contributing Rs 3.85 lakh to the central exchequer. The Government, while extending geo strategic alliances, put PSEs as the forerunners. In fact, the Government has been generating goodwill in countries such as Bhutan and Bangladesh though the public sector”.
PSEs need to be competitive at home against the global competitors and become multinationals themselves. “Our trade deficit is $49 billion and majority is in oil and gas. China has a huge presence in Mauritius, Africa and South East Asian countries. The Indian public sectors are major players in both oil and gas and should look for alternative geo strategic expansion plans,” observed Shri Chaudhary.
“As the Government plans further rounds of reforms, the competition from PSEs from domestic, private and foreign companies will only increase further in coming times. PSEs are fully geared up to face the challenges. However, for the PSEs the aim is not to survive but to grow and enhance geo strategically,” commented Shri A K Chaudhary, CMD, SAIL.
Temasek India Head, Ravi Lambah, while presenting the Tamsek model, said the company does not interfere in day to day operations of the PSEs. “The Singapore model provides reference points for Indian PSEs,” said Lambah, adding that Temasek has been looking at investing in companies in India that generate long-term value. “We have been present in India for the last 15 years and looking at increasing our investment pace in India.
Dr Nalin Shinghal, CMD, BHEL emphasized on how private sector was making rapid strides in technology. He said, “CPSEs need to scale up their R&D infrastructure. Innovation and research need to be integrated and there is the need for greater information sharing among CPSEs and Government.”
The two reports released by CII - ‘Public Sector Enterprises: Achieving Greater Competitiveness’ saw the release of two Reports - ‘The Rise of the Elephant: Enhancing Competitiveness of CPSEs’ and ‘Can the Indian PSEs Enhance Their Geo-Strategic Reach’ have come up with a roadmap on how they can increase their geo strategic reach and expand exports.
18 November 2019
New Delhi