PM addresses CPSE Conclave

Published By : Admin | April 9, 2018 | 19:45 IST
In one way the correct meaning of PSE is - Profit and Social benefit generating Enterprise: PM Modi at CPSE Conclave
For public and private sector, the formula of success remains same - the 3 Is, which mean Incentives, Imagination and Institution Building: PM
I believe that Idealism and Ideology are not enough for economic decision making, they need to be replaced with pragmatism and practicality, says the PM
PSEs can contribute towards the formation of New India through 5 Ps - Performance + Process + Persona + Procurement and Prepare: PM
To date, we have been treating PSEs as navratana companies. But now, its time to think beyond it. Can we think about making New India jewel, asks PM

The Prime Minister, Shri Narendra Modi, attended the CPSE Conclave at Vigyan Bhawan in New Delhi today. 

Thematic presentations were made to the Prime Minister on subjects such as corporate governance, human resource management, financial re-engineering, innovations and technology, and Vision 2022 for New India.

Addressing the gathering, the Prime Minister described this conclave as a new beginning in the public sector sphere.

Appreciating the presentations, the Prime Minister said that the Union Government has given operational freedom to the public sector undertakings, so that they can improve their performance. He said PSUs have contributed significantly in nation-building, and in the nation’s economy, since independence.

He said that for Public Sector Enterprises, both profit and generating social benefit are important. Complimenting the PSE employees for their contribution, the Prime Minister said that major objectives of the Government, such as electrifying all unelectrified villages, and providing LPG connections to the poor, could not have been fulfilled without the hard work of the PSE workers.

The Prime Minister said that it is not enough to rest on past laurels, but is also important to adapt to emerging challenges. He said enterprise and innovation should be the guiding principles in the 21st century. He said Incentives, Imagination and Institution Building would be the three keys to success.

The Prime Minister exhorted PSEs to help in making the New India, through changes in technology and processes. For this he said, PSEs would need a 5-P formula – Performance, Process, Persona, Procurement and Prepare.

Elaborating the same, he mentioned improving operational and financial performance; transparency and accountability in processes; procurement through the GeM platform and from MSMEs; and preparation for technological disruptions such as Artificial Intelligence, Quantum Computing and Robotics.

He set five challenges before the PSEs, for New India:

  • By 2022, how will Indian PSUs maximize their geo-strategic reach?
  • By 2022, how will Indian PSUs minimize the country’s import bill?
  • By 2022, how will Indian PSUs integrate innovation and research?
  • By 2022, what will be the roadmap for Indian PSUs to optimally utilize their CSR Fund?
  • By 2022, what new development model will Indian PSUs give the country?

The Prime Minister said that out of the 500 biggest companies in the world, one-fourth belong to the public sector in some country. He suggested that Indian PSUs can link with PSUs with other countries, and develop a comprehensive strategy for overseas investment. He said PSUs can also play a key role in reducing India’s import bill. Noting that CPSEs have modern R&D infrastructure, in addition to the facilities that exist in CSIR and ICAR etc, the Prime Minister said that innovation and research now need to be integrated. In this context, he called for greater information sharing among CPSEs and Government Departments.

The Prime Minister suggested that the CSR spend of CPSEs should be focused largely on one specific theme each year. In this context, he noted the success that was achieved when this CSR spend was utilized for toilet construction in schools. He said one good theme could be the development of aspirational districts. He said CPSEs can also take up skill development programmes, as part of CSR.

The Prime Minister said CPSEs can work as role models in many areas such as paperless work culture, cashless transactions, and waste management.

The Prime Minister expressed hope that CPSEs would participate in a big way in realizing the resolve of New India.

 

Click here to read full text speech

Explore More
شری رام جنم بھومی مندر دھوجاروہن اتسو کے دوران وزیر اعظم کی تقریر کا متن

Popular Speeches

شری رام جنم بھومی مندر دھوجاروہن اتسو کے دوران وزیر اعظم کی تقریر کا متن
India solar capacity to quadruple, wind to triple over decade: Power ministry adviser

Media Coverage

India solar capacity to quadruple, wind to triple over decade: Power ministry adviser
NM on the go

Nm on the go

Always be the first to hear from the PM. Get the App Now!
...
Prime Minister Speaks with King of Bahrain
March 20, 2026
PM Conveys Eid Greetings and Condemns Attacks on Energy and Civilian Infrastructure

Prime Minister Shri Narendra Modi held a fruitful discussion today with His Majesty King Hamad Bin Isa Al Khalifa, the King of Bahrain, to exchange festive greetings and address regional security concerns.

The Prime Minister spoke with His Majesty King Hamad Bin Isa Al Khalifa and conveyed warm greetings on the occasion of Eid al-Fitr to him and the people of Bahrain. During the conversation, both leaders discussed the current situation in the West Asian region. PM Modi condemned attacks on the energy and civilian infrastructure, underscoring their adverse impact on global food, fuel, and fertilizer security. Shri Modi reiterated the importance of ensuring freedom of navigation and keeping shipping lines open and secure. The Prime Minister further expressed his gratitude to His Majesty for his continued support for the well-being of the Indian community in Bahrain.

The Prime Minister wrote on X:

"Had a fruitful discussion with the King of Bahrain, His Majesty King Hamad Bin Isa Al Khalifa. Conveyed warm greetings on the occasion of Eid al-Fitr to him and the people of Bahrain.

We discussed the current situation in the West Asian region. Condemned attacks on the energy and civilian infrastructure in the region, underscoring their adverse impact on global food, fuel and fertilizer security.

Reiterated the importance of ensuring freedom of navigation and keeping shipping lines open and secure.

Thanked His Majesty for his continued support for the well-being of the Indian community in Bahrain."