PEC as a premier international trading company makes significant contribution to Make in India programme by sourcing raw material for the manufacturing sector, said M Nagaraj, Chairman-cumManaging Director, PEC Limited, a Government of India enterprise under Ministry of Commerce and Industry, in a special interview with Souvik Goswami of Elets News Network (ENN).
Pease give us an overview of PEC Limited.
PEC Limited (formerly known as The Projects and Equipments Corporation of India Ltd till 1997), originally an engineering wing of STC was incorporated as ‘The Project and Equipment Corporation of India Limited’ on 21 April, 1971 under the aegis of Ministry of Commerce, Government of India. PEC in its early years of inception specialised in export of railway equipment, engineering equipments and turn key projects. With the spread of globalisation, PEC diversified into trading of agro commodities, industrial raw materials etc.
In programmes like Make in India, Digital India, Skill India, Swachh Bharat launched by Prime Minister Narendra Modi Government, where does PEC stand as a Public Sector Undertaking (PSU)?
PEC has been contributing to the energy requirement of the country by installing solar equipment in the premises of various government bodies. PEC as a premier international trading company makes significant contribution to Make in India programme by sourcing raw material requirements of manufacturing sector. Skill development programme has been implemented by PEC under Corporate Social Responsibility (CSR) activities. As a part of the Swachh Bharat Mission, PEC had constructed two toilet complexes in the NCR region.
What is PEC’s present line of businesses?
PEC’s present line of business includes:
- Turnkey projects in food processing, electrical transmission and industrial plants in African, Asian and Latin American countries.
- Export of engineering equipment, medical equipments to various countries.
- Implementation of solar projects for various state and central government agencies.
- Import of Bullion.
- Trading in agro commodities.
- Import of edible oil and pulses catering to public distribution system of various state governments.
- Import of industrial raw materials for manufacturing sector.
Not many people are aware about the kind of significant role the PSUs play, especially towards ensuring national development and country’s economic growth, can you throw some light on how exactly PSUs are helping the country’s economic growth?
PSUs are vital for maintaining the economic growth of the country and steering the nation’s economy in the right direction. PSUs provide a vital link to the government to intervene in the economy either directly or indirectly to achieve the desired socio-economic objectives. The government owned PSUs rise above the short-term commercial interest to invest in local assets and resources to achieve long term economic gains.