Patel speaks about the growth potential of the PSUs at the award ceremony

Praful Patel was all praises for the PSUs, at a recent award ceremony. The first governance now awards got underway and the PSUs came out with flying colors. The event had taken place in the second half of the last year and the venue for the award ceremony was the La Meridian hotel in New Delhi.

The Public Sector Enterprises have always formed an integral part of the Indian economy. The sector has made valuable contribution, towards the growth of the Indian economy, in whatever way feasible. The Heavy Industries Minister Praful Patel, who was giving out the awards at ceremony, said that the PSUs have enough potential within them. From here on, they need to evolve and become the world leaders. Patel who was addressing a huge gathering of the PSUs at the award ceremony further said it is the thinking that needs to change, in order to become the top leaders of the world. It is also the out of the box thinking that will eventually help the cause of the business honchos. Praful Patel has shown growth in the Heavy Industries, ever since he took charge.

Despite the prevalent image of the Industry, it was clear that these units were inches. The PSUs are the new age fighters that are now recuperating but not relapsing. To get back on the track, they ought to lick their old wounds. Delivering a speech at the function, Patel said that the PSUs will never be an obstacle and that the whole unit needs to witness a sea of change. Factors such as freedom and flexibility are pivotal, to provide the much needed breakthrough to the PSUs.

AIFF President Praful Patel also spoke about the economic slack of the nation, were the PSUs fail to muster enough recognition, in spite of rendering useful services, towards the nation. The NCP Leader cited the example of SAIL, that produces around 14 million tonnes of steel and still not many people know about its services. On the other hand, a pr5ivate company would be able to have better market capitalization, even if its production is half of SAIL’s.

Enterprise Secretary O.P. Rawat, who spoke after Patel finished, said that the nation has been able to withstand the global slowdown, largely the banking on the public sector units. Rawat also mentioned that if these companies and enterprises need to grow, they need to fulfill the demands and prerequisites of the emerging market.

Patel, who has been anchoring the ship for the Heavy Industries, said that bygone is that era, when the Prime Minister only used to meet the captains of the private companies, to address their concern. Last year, it was an initiative taken by the public enterprises and the Heavy Industries, for conducting a meeting between the CMDs of the public sector units and the Prime Minister of India. Probably, it was the first time, that such a one-on-one meeting took place, where the Prime Minister also got involved.

Concluding his speech, Patel also mentioned that the young guns of the nation, who made an effort to work with the PSUs initially, are now being drawn towards the private companies. Patel further added that the PSUs would be looking to provide these individuals with the same green pastures. Least to say, Praful Patel’s contributions, towards the growth of the Heavy Industries, is myriad in nature.

The Heavy Industries Minister Praful Patel is currently attending the World Economic forum meet in Switzerland, where India has a strong presence. For more Praful Patel information, follow him on his social networking sites such Facebook, google+ and his YouTube channel.