Economy is booming & Public Sector Undertakings (PSUs) are playing an important part in driving country’s economic growth. With program like ‘Make in India’ full swing, India is all set to become the most preferred manufacturing hub in the world. And there also, PSUs are having importance for setting up manufacturing units all across India. On the other hand, PSUs are use technology effectively to bring accountability, transparency in their working operations as well as helping the organizations to grow rapidly.
Public Sector Units (PSU’s) will be pushing the growth engine of the country, be it through land or the cash reserves kept as bank deposits by these enterprises. While the government has initiated a slew of measures to push growth including reforms for ease of doing business, announcing the ‘Make in India’ campaign to boost the manufacturing sector, governance and fiscal prudence, what will ultimately push the growth cycle is the funds that need to flow in the economy. And the PSU’s seem to be a perfect bet for the government to facilitate for these funds.
Public Sector Undertakings constitute an important segment of the Indian economy. Their contribution to the national economy is phenomenal. The opening of Indian economy has radically transformed the market dynamics in India with private sector playing a greater role in shaping the industrial landscape. As a consequence, the PSEs have been exposed to competition from domestic as well as multi-national corporations.
India’s central government-owned manufacturer of telecommunications equipment, Indian Telephone Industries Limited, (ITI), has inked deal with 58 startups and Original Equipment Manufacturers (OEMs). These startups deal with Information and Communication Technology (ICT), Internet of Things (IoT) and Defence technology to boost entrepreneurship. The agreements were signed in the presence of Union Minister of State (Independent Charge) for Communications and Minister of State for Railways, Manoj Sinha, and Chairman, Telecom Commission and Secretary, Department of Telecommunications (DoT), Aruna Sundararajan. The agreements were signed during the first edition of “ICT & IoT Start-up Tech Expo” at ITI, Bengaluru. Among the 400 startups, 58 have been shortlisted. The solution being offered by start-up companies include civil and military advanced radar systems, advanced edge router systems, next generation 5G technology products, data storage and networking solutions, digital security solutions, advanced metering solutions and Wi-Fi products and solutions. The MoUs will help ITI to diversify its manufacturing capabilities in partnership with start-ups, thereby supporting the sustainable turnaround of ITI, which is country’s first Public Sector Unit (PSU) post-independence and premier telecom manufacturing company, founded in 1948. “With more than 20,000 start-ups, India has the second largest ecosystem for start-ups in the world. Such events will provide an effective platform for start-ups to convert their innovative ideas into marketable products and services. Young India should serve India,” said Sinha. The 2-days ICT & IoT Start-up Tech Expo in Bengaluru was hosted in order to enable startups and technology owners to discuss, discover and collaborate to convert their innovative ideas into marketable products & services in field of ICT & IOT. The event hosted around 500 technocrats and entrepreneurs from the ICT, IoT and Defence Sectors. More than 100 reputed startups displayed their innovative products at the expo. ITI has been a pioneer in implementing government initiatives such as Digital India, Startup India, Make in India, Skill India. The expo also allowed ITI to proactively engage with startups so as to have a long term strategic alliance with a view to manufacture and offer best solutions in ICT and IoT segment. […]
The Government owned enterprise Rail India Technical and Economic Services Ltd (RITES) has launched its Initial Public Offering today. By this move, the Government wants to get rid of its major stake in this PSU. The aim is to raise more than g Rs 460 crore by selling 2.52 crore shares at Rs 180-185 per share in the three-day offer. By this, the Government's stake will be reduced by 12.6 percent. The shares will be listed on on BSE and NSE. The money raised will go to the Government of India only. The prime objectives of carrying out the offer is to disinvest about 2.4 crore equity shares that is held by the government, which is equals to 12 percent of the paid up share capital as part of the net offer, and 12 lakh shares that will be kept aside for employee reservation. Why you should invest? RITES is a profitable Miniratna PSU which is showing constant growth since the last five years. It has orders worth Rs 4,800 crore that gives revenue visibility for the next two-three years, reasonably good financial performance. The company has also undertaken projects in 55 countries, including in the Asian, African, Latin American, and the Middle East regions. It has a strong client base and mainly caters to the Indian Railways. The high investment budget of the railways works in favour of the company. In the past four years ending FY17, the company’s revenues have grown at a compounded annual growth rate (CAGR) of 9 per cent to Rs 1,353 crore. Also, its net profit has grown at a CAGR of 11 per cent to Rs 362 crore in FY17. […]
State-owned construction firm NBCC will invest more than Rs 500 crore in two loss making PSUs and will thereby acquire majority stake in both the public sector firms. "We are gradually moving towards consolidation in the construction business. As a part of the strategy, we acquired loss making HSCL. We will be completing the acquisition of two more PSUs by the second quarter of this fiscal," said company's Chairman-cum-Managing Director Anoop Kumar Mittal. He added that the company will invest around Rs 500 crore from internal accruals to acquire the other two loss-making firms. Lat year, NBCC has acquired 5q per cent stake in Hindustan Steel Works Construction (HSCL), also a public sector company under the steel ministry, with an investment of Rs 35.70 crore. "Like HSCL, these two firms are also engaged in the construction business and therefore their acquisition will be strategic. Also, both these firms have a cumulative order book of around Rs 15,000 crore. So with the acquisition, these orders will be a part of our order book," Mittal added. Currently, the company's order book stands at around Rs 80,000 crore and it hopes to add around Rs 20,000 crore. NBCC is also planning to utilise lands of sick public sector undertaking (PSU) or loss making PSUs. "We have quite a few land parcels and we are working on 4-5 of those. We plan to develop large townships, or mixed-used developments, or use it for creating affordable housing or high-end luxury residential with commercial space, among others. By the end of the calendar year, we will be finalising two projects with one in the NCR and the other either in Hyderabad or Kolkata," Mittal said. […]
To increase autonomy, reduce political interference, the Central Government is laying a roadmap to lower its stake in all Central Public Sector Enterprises (CPSEs) to 49 per cent in the next three years. PSUs dealing in strategic importance sectors such as defence and oil will be kept out of this gamut. PSUs like Steel Authority of India, Power Grid Corporation of India Ltd, among others will be the first ones where the Government will let go off its majority stake. NITI Aayog is in the process of identifying such government run companies. Currently, the Government holds more than 51 per cent stake in over 250 CPSEs. In seven other CPSEs such as HLL Lifecare and Dredging Corporation of India Ltd, the government is in the process of appointing advisors to lay out a roadmap for disinvestment. […]
Public Sector Undertaking Steel Authority of India Ltd (SAIL) has recorded a net profit of Rs 816 crore in the last quarter of financial year 2017-18. This comes after making a provision of Rs.582 Crore towards enhanced gratuity recently approved by Government of India. All the five integrated steel plants of the Company have also recorded individual profits in Q4 FY18. SAIL’s performance on the production front recorded highest ever quarterly crude steel production of around 4.0 MT in Q4 FY18 with a growth of 6% over CPLY. "The effect of synergised team work across SAIL, integration of every process and continual focus to service the customers with world class products is finally beginning to show. SAIL, which has almost finished its modernisation and expansion, is ready with an array of value added products which are tailored for today’s requirements. The domestic market is showing very good growth signs, which is backed up strongly by the Government’s initiative to enhance domestic steel consumption. The ongoing and upcoming large infrastructure projects offer large scope for steel consumption,” said P K Singh, Chairman, SAIL. […]
The relations between India and Kazakhstan go back thousands of years and the current dispensation in India is trying to further strengthen the geniality between the two nations, which is evident by Prime Minister Narendra Modi and External Affairs Minister Sushma Swaraj's official visit to India's largest trade and investment partner in Central Asia in 2015 and 2017 respectively. However, beyond the usual diplomatic bonhomie there is more to this relationship that can bring the two countries further closer. Recently, the Kazakh government launched the 'Digital Kazakhstan' programme which seeks to emulate the idea of 'Digital India' programme to bridge the digital divide between governments, government and people, and government and industry. Given India's position as a global Information Technology leader, it is but obvious that the Central Asian country is looking up to India to help it in making its Digital programme a success. To ensure this Kazakhstan Deputy Prime Minister Askar Zhumagaliyev is in New Delhi, leading a delegation of experts from his country, to understand the nitty-gritty of Digital India. And they are impressed by what they saw. The Kazakh leader has sought partnership from both the public and private sector in India to help Kazakhstan in its digital journey. "The development of human capital is one of the most important areas of the Digital Kazakhstan programme. Without a highly professional staff, it is impossible to implement digital initiatives. We see that India has accumulated good experience in training qualified IT staff. And we are very interested in this experience of our Indian colleagues," Zhumagaliyev said. A look at India's export to the Central Asian nation reveals that software already forms a considerable chunk of the trade between the two nations. However, the Kazakhistan government seeks more Indian companies to set up their base there. For this, they have been developing the Astana Hub in order to develop an entire innovative ecosystem in Kazakhstan. Under the Indian Technical and Economic Cooperation programme, besides training Kazakh professionals, India has established a Centre of Excellence in the field of Information and Communication Technology at Eurasia National University in July 2015. Zhumagaliyev said that his country is looking forward to take this cooperation to the next level by building more partnerships in the IT sector. Under the 'Digital Kazakhstan' the country wants to provide broadband connections to all parts of the country by 2021, among several other goals. […]
Infosys has collaborated with Google for the development of cloud transformation and migration services. Infosys will now offer solutions and services on Google Cloud Platform (GCP), creating a scalable, on-demand cloud model that will enable enterprises to easily transition and adopt a cloud-first strategy. The company has already created artificial intelligence and machine learning-driven industry specific solutions on GCP. It is used for the digitisation of data supply chain and Customer Genome. "Infosys solutions on GCP will provide clients the best-in-class digital technologies, as well as a path to migrate and modernise their legacy infrastructure by leveraging artificial intelligence, machine learning, compute and analytics to build modern digital apps," says Infosys President and Deputy Chief Operating Officer Ravi Kumar. Infosys has also announced a new offering called the 'Data Native Intelligent Enterprise' powered by the 'Infosys Digital Brain' on GCP. It is a solution that take teachings from the data collected from various sources, connects it across silos using Artificial Intelligence and encodes this intelligence. […]
To improve the women and child safety, two online portals were launched by Home Minister Rajnath Singh in Delhi. The portal “cybercrime.gov.in” will receive complaints from citizens on objectionable online content related to child pornography, child sexual abuse material, sexually explicit material such as rape and gang rape. Similarly, the National Database on Sexual Offenders (NDSO) will help in tracking and investigating cases of sexual offences. Till now this database was available for law enforcement agencies. "The Government has taken several measures to check crime against Women and Children, including provision of stringent punishment and creation of modern forensics facilities to improve investigation, creation of the Women’s Safety Division in the Ministry of Home Affairs and launching of Safe City projects for Women’s Safety," said Singh after launching the portal. Also present on the occasion was Women & Child Development Minister Maneka Sanjay Gandhi who urged the law enforcement agencies to pay special attention to the safety of children at shelter homes. She urged the need for provision of forensic kits at police stations for quick investigation of sexual crimes. She also asked the police to take prompt action in cases where a husband abandons wife shortly after marriage. The Cyber Crime Prevention Against Women and Children (CCPWC) portal has been made user friendly that will enable complainants in reporting cases without disclosing their identity. The National Crime Records Bureau (NCRB) will proactively identify such objectionable content and take up with intermediaries for its removal. The second portal unveiled by the Union Home Minister today relates to the National Database on Sexual Offenders (NDSO). It is a central database of “sexual offenders” in the country which will be maintained by the NCRB for regular monitoring and tracking by the State Police. The database will include offenders convicted under charges of rape, gang rape, POCSO and eve teasing. At present the database contains 4.4 lakh entries. Ministry of Home Affairs has already released a grant of Rs. 94.5 crore to States/UTs for establishing cyber forensic-cum-training laboratories to strengthen cybercrime investigation and conduct training programmes to enhance capabilities of Police officers, public prosecutors and judicial officers. Senior Officers from MHA, Ministry of Women & Child Development and senior police officials from States and UTs through video conference attended the meeting. […]
New York University (NYU) has become the first university in US to introduce a blockchain technology course. Offered by NYU Stern School of Business, the new course has been started with a hope to establish a groundwork so that the students can understand Blockchain and its implications. According to a data released by Coinbase, more than 42 percent of world's top 50 universities have atleast one class on crytocurrencies and blockchain. The US is witnessing an increase in the investment in digital currencies. In fact, according to a study, 21.2 percent of college students used loan money to fund a crypto investment, hoping that the upward price volatility in crypto would help pay their debts faster. […]
To focus on new age digital technologies, Nissan has appointed Suja Chandy as Managing Director for its Digital India initiatives. She will primarily focus on Nissan's first Global Digital Hub in Kerala where solutions for building connectivity and security for autonomous, connected and electric vehicles will be build. "Having Suja lead our Global Digital Hub in India under Swami, our Chief Digital Officer, will help ensure that it drives business results for Nissan," said Tony Thomas, Corporate VP and Chief Information Officer at Nissan. Chandy was earlier serving as the Vice President and Head of sectoral investment promotion and facilitation and innovation for Invest India, the national investment promotion agency of the Indian government. She had also worked with KPMG and PWC in lead roles managing large-scale transformation engagements in both North America and India. During her stint with KPMG in India, she headed the Program Monitoring Centre (PMC) for the 'Make in India' initiative launched by the Government of India and led by the Dept of Industrial Policy & Promotion (DIPP, Ministry of Commerce & Industry), targeted at promoting investment and developing India into a best-in-class manufacturing hub. Chandy was also involved in developing the first DIPP assessment framework to evaluate 'Ease of Doing Business' (EoDB 2015) across States/UTs working with DIPP & World Bank. She has also worked in the tech/outsourcing space, and was responsible for setting up a Global In-house Captive (Research/Analytics) for CGI in Bangalore. Suja is a frequent guest speaker at the Foreign Service Institute, Delhi as well as several other national & international forums. She will operate through Trivandrum and will report to Swami TV, Chief Digital Officer, Nissan Motor Co. Ltd. […]