Union Minister HD Kumaraswamy Highlights Role of CPSEs in India’s Future at Annual Review
New Delhi [India], August 31: Union Minister HD Kumaraswamy stressed the importance of Central Public Sector Enterprises (CPSEs) working towards indigenization in line with the Prime Minister’s vision of ‘Viksit Bharat – 2047’, at the Annual Performance Review of CPSEs on Saturday.
According to the Ministry of Heavy Industries, the conference was held at Vigyan Bhawan. Kumaraswamy emphasized that CPSEs must accelerate their efforts and contribute more to the country’s development, ensuring that this progress is both sustainable and environmentally conscious.
He noted that India, now among the top five largest economies globally, aims to be in the top three within a few years, and CPSEs have a significant role to play in this advancement.
The conference was presided over by Union Minister for Heavy Industries and Steel, HD Kumaraswamy, with participation from Kamran Rizvi, Secretary, Heavy Industries, senior MHI officers, and CMDs of CPSEs under the Ministry’s administrative control.
The Ministry regularly assesses the performance of CPSEs to gauge their success in meeting their main objectives. This evaluation, conducted through the Memorandum of Understanding (MoU) system, helps CPSEs focus on outcomes and align their efforts with national priorities.
Minister Kumaraswamy further highlighted that under Prime Minister Narendra Modi’s visionary leadership, India is on a transformative path toward becoming a self-reliant and economically strong nation. Government initiatives, such as the Production Linked Incentive (PLI) schemes for sectors like Auto and Auto components, ACC, and the FAME scheme for promoting electric vehicles, have been pivotal in enhancing domestic manufacturing capabilities.
CPSEs are involved in a wide range of sectors, producing essential goods like salt, tea, and cement, and manufacturing critical infrastructure components like bridges, buildings, transformers, and electric vehicles. The performance review conducted today will be used to address challenges and continue the pursuit of excellence, ensuring that government companies become models of efficiency, innovation, and service to the nation.
He emphasized avoiding cost escalation and ensuring the timely completion of all projects of national significance. CPSEs are vital to the economy, serving not just as commercial entities but as strategic national assets that provide critical infrastructure, services, and industrial capabilities. Their performance is essential for advancing India’s development agenda, boosting self-reliance, and strengthening global competitiveness.
During the event, the CMDs of several CPSEs under the Ministry of Heavy Industries presented their ‘MoU Performance and Way Forward,’ including Bharat Heavy Electricals Ltd. (BHEL), Bridge & Roof Co. Ltd. (B&R), Engineering Projects (India) Ltd. (EPIL), Braithwaite Burn & Jessop Construction Co. Ltd. (BBJ), Andrew Yule & Co. Ltd. (AYCL), Heavy Engineering Corporation Ltd. (HEC), Cement Corporation of India Ltd. (CCI), HMT Ltd. (HMT), HMT (International) Ltd., HMT Machine Tools Ltd., Hindustan Salts Ltd. (HSL), Sambhar Salts Ltd. (SSL), Rajasthan Electronics & Instruments Ltd. (REIL), Instrumentation Ltd. (IL), and NEPA Ltd.
Doubts Revealed
Union Minister -: A Union Minister is a member of the government who is in charge of a specific department or ministry. They help make important decisions for the country.
HD Kumaraswamy -: HD Kumaraswamy is a politician in India. He has served in various important roles, including as a Union Minister.
CPSEs -: CPSEs stands for Central Public Sector Enterprises. These are companies owned by the Indian government that work in different industries like energy, transportation, and manufacturing.
Viksit Bharat – 2047 -: Viksit Bharat – 2047 is a vision set by the Prime Minister of India to make India a developed country by the year 2047, which will be 100 years after India’s independence.
Annual Performance Review -: The Annual Performance Review is a meeting where the performance of different organizations or companies is evaluated. It helps in planning for the future.
Vigyan Bhawan -: Vigyan Bhawan is a famous conference center in New Delhi, India, where important meetings and events are held.
sustainable development -: Sustainable development means making progress in a way that does not harm the environment and can be continued for a long time.
environmentally conscious development -: Environmentally conscious development means building and growing in a way that takes care of the environment, like using less pollution and more green energy.
Production Linked Incentive (PLI) schemes -: PLI schemes are programs by the government to encourage companies to produce more goods in India by giving them financial rewards.
FAME scheme -: The FAME scheme stands for Faster Adoption and Manufacturing of Hybrid and Electric Vehicles. It is a government program to promote the use of electric and hybrid vehicles in India.
CMDs -: CMDs stands for Chairmen and Managing Directors. They are the top leaders of companies who make important decisions and plans.
