Mukherjee inaugurates Global PSE Summit

President Pranab Mukherjee inaugurated the Global PSE Summit organized by the Indian Confederation of Indian Industry (CII) in collaboration with Department of Public Enterprises, Ministry of Heavy Industries and Public Enterprises here today.

Speaking on the occasion, Mukherjee said that Indian PSEs have been an integral part of the industrial landscape of our country. They have served as progenitors of Indian industry and stabilizers of Indian economy. As model employers and as leaders of the industrial community, PSEs have contributed in many ways.

He further said that foremost challenge of Indian PSEs is to increase their competitiveness to deal with market forces.

"Management has to be of the highest professional level, enabling the attainment of global benchmarks in productivity and efficiency and meeting the multiple objectives expected of contemporary global enterprise," he added.

The President said that as custodians of social development, a high degree of social engagement is expected from PSEs.

"Though central sector PSEs are already discharging their duties in the arena of Corporate Social Responsibility, they would need to set an example for their private sector counterparts in view of the provisions laid down in the Companies Act, 2013," he added.

Among the dignitaries present on the occasion were Praful Patel, Union Minister of Heavy Industries and Public Enterprises, S. Gopalakrishnan, President of CII, O.P. Rawat, Secretary of Department of Public Enterprises, Ministry of Heavy Industries and Public Enterprises and B.P. Rao, Chairman of CII Council of PSE's and Chairman and Managing Director of Bharat Heavy Electricals Limited.