Collaborate and pool resources to face and overcome competition, says President

Speaking on the occasion, the President said in a globally integrated economy, it is essential that our Central Public Sector Enterprises (CPSEs) collaborate and pool their resources to face and overcome competition.

The financial, technical and manpower resources of our CPSEs need to be shared to enable better and more optimal solutions in increasingly customer driven markets.

The exceptional human capital available with CPSEs should be harnessed to develop suitable strategies and interventions which lead to improvement in performance and expansion of operations both in domestic and global markets," Mukherjee said.

The President said CPSEs need to take immediate steps to identify and unlock the surplus land available with them as the same can be used in generating much needed public investments to boost the economy and increase employment opportunities.

There is similar need for identifying and unlocking the free surplus reserves which are available with our CPSEs so that the same may be utilized for undertaking enhanced capital expenditure, he said.

The President pointed out that as per available data, PSEs during 2014-15 registered a growth of 7% in Paid up Capital & Capital Employed; 10.5% in total investment and 20% in total market capitalization as compared to the previous year. On an average during the last 3 years from 2012-13 to 2014-15, operating PSEs could earn an overall net profit of Rs. 1,15,426 crore, generate Gross Turnover/ Revenue of Rs. 20,02,591 crore and pay dividend of Rs. 57,115 crore. The contribution of the PSEs in the nation’s economy has, thus, continued to be significant year after year.

The President complimented SCOPE for bringing out a comprehensive Compendium showcasing the CPSEs contributions towards Government’s initiatives such as “Make in India”, “Skill Building”, “Digital India” and “Swachch Bharat”. He also complimented the management and employees of CPSEs for their wholesome participation in Swachch Bharat Abhiyaan. In this context, he called upon CPSEs to consider taking up a common cause or issue aimed at upliftment of the country under their CSR action plan every year. He said this would allow CPSEs the flexibility to choose different common causes to be undertaken under CSR every year depending upon the broader thrust areas identified by Government.