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CPSEs begin exercises to achieve PM's 2022 dreams

By IndianMandarins- 24 Apr 2018
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cpses-begin-exercises-to-achieve-pms-2022-dreamsFollowing the exhortation and advice of Prime Minister Narendra Modi at a CPSE conclave on April 9, many of these companies have started setting out the transformational growth path they have to take through 2022 to build a new India. Efforts are said to be underway to turn at least 10 CPSEs into globally-competitive companies by benchmarking their productivity/efficiency/quality against the global best so that they could find a place in global Fortune 500 companies. Similar efforts are also being made to turn up 10 of the 16 Navratnas in the Fortune 100 list. Plans are afoot for periodic performance benchmarking by independent agencies, streamlining tendering & procurement policy, and avoiding litigation by way of prior advice/advance ruling by independent panels of experts. Further, not more than one central government officer will be appointed as a nominee director on the board of a CPSE; an officer won't be appointed on more than two boards, and their performance to go into their APARs. CPSEs have also been directed to function as incubators in their respective fields and set themselves targets for start-ups and support for them. They may also have to take up the task of skill development in their areas of expertise as part of their CSR.

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