Public Sector Enterprises are catalysts of growth and pillars of prosperity: President Murmu

Calling Public Sector Enterprises catalysts of growth and pillars of nation’s prosperity, President of India Droupadi Murmu stated that since independence, the public sector has been a powerful vehicle for economic development and social inclusion.

Murmu was speaking at the SCOPE Eminence Awards for the year 2022-23, here today. Addressing the gathering she said that the SCOPE Eminence Awards are a celebration of the significant contribution of public sector enterprises to the development of India.

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Performing well on all parameters, social, economic, environmental, technological and ethical, is the hallmark of a good enterprise,” said the President. Instituted by the Standing Conference of Public Enterprises (SCOPE), SCOPE Eminence Awards, are an endeavour to commemorate the remarkable achievements and contributions of Public Sector Enterprises.

Speaking about the role of the sector in the national campaign like Aatmanirbhar Bhaarat and ‘Make in India, the President said that Central Public Sector Enterprises (CPSEs) have played an effective role. “During Operation Sindoor, the indigenous Air Defence Control and Reporting System, Akashteer demonstrated its infallible capability. Public Sector Enterprises have played a role in the creation of this system. This is a matter of special pride for the Public Sector Fraternity,” she added.

“Public Sector Enterprises have laid the foundation for industrialisation, infrastructure development, social upliftment and balanced regional development. With time, these enterprises have evolved and changed. The expectations of the government and society from Public Sector Enterprises have also changed. Amid all these changes, Public Sector Enterprises, through their performance, are playing an important role in achieving economic and national goals,” said the President.

Adding that apart from the economic and financial contributions, Public Sector Enterprises have given priority to balanced and inclusive growth, Murmu said it ensured keeping the national goals paramount. Looking at their role and contribution, it is appropriate to say that Public Sector Enterprises are catalysts of growth and pillars of prosperity for the nation and its people, she noted further. She also stated that these enterprises have also presented many good models and examples of governance and transparency.

The President emphasized the proven contribution of public enterprises in fostering self-reliant innovation, particularly in national security and India’s advancing technological independence. She noted that Public Sector Enterprises (PSEs) have played a vital role across key sectors such as agriculture, mining and exploration, manufacturing, processing, power generation, and services. PSEs have consistently led the way in addressing national challenges. Looking ahead, the President asserted that Central Public Sector Enterprises (CPSEs) will be pivotal in achieving the vision of a developed India by 2047. She highlighted the expectation that CPSEs will make decisions rooted in nation-building, act with integrity, and be guided by a sense of empathy and commitment to social responsibility.

In her concluding remarks, the President appreciated SCOPE for honouring good performance across multiple dimensions such as sustainable development, corporate governance, corporate social responsibility and innovation. She said that it represents a holistic approach towards progress and development.