CPSEs to play a vital role in achieving ‘Viksit Bharat 2047’ dream: Minister HD Kumaraswamy

New Delhi [India], August 31 (ANI): 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 Central Public Sector Enterprises (CPSEs) on Saturday.

According to the Ministry of Heavy Industries, the Ministry of Heavy Industries (MHI) convened the conference at Vigyan Bhawan.

He 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.

Kumaraswamy emphasized the Ministry’s crucial role in realizing the Prime Minister’s vision, particularly in engineering and the automotive sector.

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.

This initiative is part of the Ministry’s continuous efforts to assess how effectively CPSEs are achieving their core objectives. 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), NEPA Ltd.