Ministries need to give freedom to public sector units (PSUs) in the country to perform and the government should not create roadblocks in the implementation of plans by state-controlled companies, NITI Aayog CEO Amitabh Kant has said.
Kant said decision-making should be left to the discretion of PSU managers.
Deliberating on how to make Indian public sector enterprises globally competitive with the private sector, Kant said the government is promoting the single-window clearance of projects, ideas and collaborations and thus creating the sustainable conditions for ease of doing business.
"India is growing at 7 per cent but, we need to grow at 9 to 10 per cent for years to make it a global manufacturing hub. We are creating the beneficial environment for the businesses to start, grow and flourish in India," he said.
"We have encouraged Indian states to promote competitiveness to grow and prosper. Earlier, we had analysed the states on 100 points but, now it is going to be the parameters of 324 points," Kant added.
He said foreign direct investment (FDI) grew 48 per cent last year in the country despite a global economic slump.
"We have seen tremendous growth in roads, railways and civil aviation while implementing the Make in India initiative," Kant said.
Rana Kapoor, managing director and CEO of Yes Bank, said: "Public sector enterprises, as the original bastions of Indian industry, hold immense potential to catalyze the Government’s Make in India strategy. Aided by a proactive, strong and decisive Government I strongly believe that PSEs can be the engines of India’s growth over this decade. We are fortunate to be at a juncture when India is indeed a bright spot in the global economy."
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Haider Ali Khan is an alumnus of IIMC. He holds a degree in English Journalism from the prestigious campus. His passion includes Aviation, Technology, Politics and Sports.
