India PSU Conference 2015
Being the largest commercial enterprises in the country, PSUs provide a huge leverage to the government (their controlling shareholder) to intervene in the economy directly or indirectly to achieve the desired socio-economic objectives. The opening of Indian economy has radically transformed the market dynamics in India with private sector playing a greater role in shaping the industrial landscape. As a consequence, the PSEs have been exposed to competition from domestic as well as multi-national corporations.
State based capitalism has been practiced in economies around the world for long. In Canada and New Zealand there is a concept of Crown Corporations, which are government-owned entities. It becomes increasingly evident that PSUs have played a vital role in the growth and economic development of any nation.
For ensuring that the Indian economy continues to scale new heights and emerges as an economic superpower, it is imperative for the PSUs to continue to demonstrate global competitiveness and achieve market leadership. The empowerment of these enterprises by the government has been a key enabler that has helped them in overcoming some of the operational constraints, critical for successful functioning of these organisations.
However, to meet the global challenges and the changing nature of market dynamics, and to truly emerge as global leaders in their respective areas, there is a need for reforms and interventions that can help India further unlock the value and potential of the these public sector enterprises.
The India PSU Conference 2015 is a platform where stakeholders from Maharatnas, Navratnas, Miniratnas and other central PSEs will gather to discuss key issues, challenges and the road map to remove the road block. It will also be an opportunity for peer-to-peer learning and information sharing on best practices and next practices to give a boost to the growth of this sector.