Prime Minister's Office
09-April, 2018 19:01 IST
PM addresses CPSE Conclave
The Prime Minister, Shri Narendra Modi, attended the CPSE Conclave at Vigyan Bhawan in New Delhi today.
Thematic presentations were made to the Prime Minister on subjects such as corporate governance, human resource management, financial re-engineering, innovations and technology, and Vision 2022 for New India.
Addressing the gathering, the Prime Minister described this conclave as a new beginning in the public sector sphere.
Appreciating the presentations, the Prime Minister said that the Union Government has given operational freedom to the public sector undertakings, so that they can improve their performance. He said PSUs have contributed significantly in nation-building, and in the nation’s economy, since independence.
He said that for Public Sector Enterprises, both profit and generating social benefit are important. Complimenting the PSE employees for their contribution, the Prime Minister said that major objectives of the Government, such as electrifying all unelectrified villages, and providing LPG connections to the poor, could not have been fulfilled without the hard work of the PSE workers.
The Prime Minister said that it is not enough to rest on past laurels, but is also important to adapt to emerging challenges. He said enterprise and innovation should be the guiding principles in the 21st century. He said Incentives, Imagination and Institution Building would be the three keys to success.
The Prime Minister exhorted PSEs to help in making the New India, through changes in technology and processes. For this he said, PSEs would need a 5-P formula – Performance, Process, Persona, Procurement and Prepare.
Elaborating the same, he mentionedimproving operational and financial performance; transparency and accountability in processes; procurement through the GeM platform and from MSMEs; and preparation for technological disruptions such as Artificial Intelligence, Quantum Computing and Robotics.
He set five challenges before the PSEs, for New India:
- By 2022, how will Indian PSUs maximize their geo-strategic reach?
- By 2022, how will Indian PSUs minimize the country’s import bill?
- By 2022, how will Indian PSUs integrate innovation and research?
- By 2022, what will be the roadmap for Indian PSUs to optimally utilize their CSR Fund?
- By 2022, what new development model will Indian PSUs give the country?
The Prime Minister said that out of the 500 biggest companies in the world, one-fourth belong to the public sector in some country. He suggested that Indian PSUs can link with PSUs with other countries, and develop a comprehensive strategy for overseas investment. He said PSUs can also play a key role in reducing India’s import bill. Noting that CPSEs have modern R&D infrastructure, in addition to the facilities that exist in CSIR and ICAR etc, the Prime Minister said that innovation and research now need to be integrated. In this context, he called for greater information sharing among CPSEs and Government Departments.
The Prime Minister suggested that the CSR spend of CPSEs should be focused largely on one specific theme each year. In this context, he noted the success that was achieved when this CSR spend was utilized for toilet construction in schools. He said one good theme could be the development of aspirational districts. He said CPSEs can also take up skill development programmes, as part of CSR.
The Prime Minister said CPSEs can work as role models in many areas such as paperless work culture, cashless transactions, and waste management.
The Prime Minister expressed hope that CPSEs would participate in a big way in realizing the resolve of New India.
***
Ministry of Heavy Industries & Public Enterprises
09-April, 2018 19:40 IST
Prime Minister says CPSEs should transform into profit and social benefit Generating Enterprises
Prime Minister of India Narendra Modi addressed heads and senior officials of around 331 Central Public Sector Enterprises (CPSEs) at the CPSE Conclave-Vision 2022 in New Delhi today. This was the first time in 75 years that a conclave of all CPSEs was held. Speaking on this occasion the Prime Minister said that CPSEs are the wealth of nation and will be an important catalyst to fulfil the vision of New India by 2022. The Prime Minister went on to say that with this Conclave a new beginning is being made by CPSEs to transform themselves into Profit and Social Benefit Generating Enterprises. The Prime Minister outlined three mantras for CPSEs- Incentives, Imagination and Institution building in order to bring about this transformation. Unique incentives, not necessarily financial, will energize the public enterprises. Imagination will bring about technological changes for which leadership is required and institution building will transform the public enterprises from Maharatna into New India Ratna Enterprises.
The Prime Minister went on to give a formula of 5 Ps which will prepare the CPSEs to compete with the best companies in the world-Performance, Process, Persona, Procurement and Preparedness. In a few years, India will become a 5 trillion dollar economy andthis will be possible due to the collective efforts of all CPSEs which will be the third arm of revenue generation for the India’s GDP.
Prime MinisterModi put forth five challenges and asked for roadmaps with measurable targets to be prepared within 100 days towards fulfilling the vision of New India by 2022. The five challenges put forth by the Prime Minister are:
- How will the CPSEs increase their Geo Strategic Reach?
- How will CPSEs will reduce India’s import bill?
- How will CPSEs work in coordination with each other for innovation and research?
- How will CPSEs use CSR funds for the 115 aspirational districts, which are to be brought on par with national indices?
- What new model CPSEs will offer to the development of New India?
The Union Minister for Heavy Industries and Public Enterprises Shri Anant Geete welcomed the Prime Minister at the Conclave. The Minister of Statefor Heavy Industries and Public Enterprises, Babul Supriyo along with Secretaries of Ministries of Government of India and other top officers were present on this occasion.
*****