Training is the key
We need to do our business reviews effectively. For this, we can skill the required workforce, which can be located at various places. So, all the parts of the organisations and the stakeholders, partners, contractors, etc. have to work in a synchronised manner. Also, we must conduct town-hall meetings, the meetings in which any senior executive can address the team members and employees together. Training is another important factor, which should happen regularly and effectively. However, the challenge is that there is an acute shortage of quality trainers, along with geographical constraints. Further, with the use of technology, reviews, trainings and town-hall meetings are not effective or are very less effective. Another issue that we come across includes immersiveness. It is the basic challenge that comes while using audio-video conferencing. Sometimes, we need to share presentations or draw a picture on the whiteboard, which is a challenge in audiovideo conferencing. Also, ease of use is very low. It also becomes like a project as we have to plan in advance, arrange for an IT manager so that everything works on time.
Technology must to sustain
Historically, public sectors consume significant importance in the Indian economy in both preand post-Independence period. In the pre-Independence era, the public sector was confined primarily to few sectors, including railways, ports and ordinance factories etc. Post-Independence era was characterised by organising economy with a weak industrial base, regional imbalance and economic development, low-level saving, inadequate infrastructure facilities etc. In this scenario, the role of technology in various operations and processes of Indian public sectors is crucial to not only meet the organisations, but also to sustain in the competition. Innovation has become a global phenomenon, and investment and nurturing of R&D have become an absolute necessity for any country to be a global player or a market leader. In the absence of critical inputs, particularly technology, it becomes difficult for any entity to sustain in the phase of intense competition and meeting the objective of industrialisation. In order to have the competitive edge, some PSUs entered into strategic alliances. Moreover, in our business areas, we are mainly sustaining on the upgradation of technology and adopting the new technologies. It is true that once you adopt the technology, only then you can sustain in the market.
Need to strike balance in PSUs
On the one hand, we have huge social responsibility, while on the other, we have to schedule our larger business interests also. Hence, balancing is becoming very tough. Our every action is judged meticulously and thoroughly. Today, our effort is towards globalisation. The world is becoming very small and technology is changing fast. However, the question remains — are we really progressing? The whole world is marching towards development and forwardness. The Public Sector Undertakings have contributed tremendously towards the national growth and Karnataka has been a favourite place for Navratna PSUs. We have enough challenges covered with equal opportunity. The prime object of the PSU is to ensure the availability of goods and service to the general public at much competitive prices. Profit alone should not be our motto. PSUs are failing and corporate sector is flourishing. We are smart people cursed with too much of non-governance. Public sector has to seriously think about priority sector. Whatever we do today has to be remembered with gratitude by the upcoming generation. It is our prime responsibility to have sustainable development model and the ultimate aim is that elite PSU class would be reaching out to the last man of the society and uplift his morale.
Supporting Digital India
As we all know that there are more than 250 central Public Sector Undertakings (PSUs) in the country and these were created to foster the technological and economical growth of the country, it was stipulated in the government procurement system that the public sector companies are to be encouraged to provide the subsets to the central government departments. After the liberalisation which took place in 1991, PSU companies also became competitive and a lot of technological innovation and development has happened across the country in the public sector companies. Among 250 Public Sector Undertakings, we have 11 PSUs of Indian Railways. All of those are performing well and a majority of those are the profit-making PSUs. We have also got central PSUs like BHEL and Steel Authority of India (SAIL) among others, which are encouraged by the Indian Railways to have business with us. Further, Indian Railways has switched over to the e-procurement system all across the network. Also, it is generating about `4,500 crore of out of scrap sale which is done through e-auction. We are very much into Digital India and look forward to the support from the industry to be a part of the Digital India Movement.
Plan when in good health
Instrumentation Limited is a company which has spent 50 years of its existence. It was created in 1964 and was an undisputed leader in control and instrumentation for about more than two decades. The only competitive advantage a company has, especially in public sector, is to change, learn, unlearn or learn, unlearn and change faster than the potential competitor. If you don’t change, you perish. So, change is the only thing which is constant. The best time for a company to plan its future is when it is doing well and not when it’s not doing well. You have to plan for the future when you are healthy or if you fail to plan , you are planning to fail. IL is supplying control and instrumentation systems for thermal, steel refineries, etc. MNCs became our competitors because the doors were open. However, we didn’t have what is required for a PSU if it is in manufacturing sector – strong foundation of technology. Even till today, we are struggling. The only thing that is happening in our country right now is that it is neither swimming nor sinking, it is floating. We are making all efforts not looking outside. The way forward is that you have to look for the opportunities that government has created for us like Make in India, Swachh Bharat and Digital India.