Industry & Economy
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PSU
`Health of PSUs vital for economic growth'
G. Naga Sridhar
Our Bureau
Hydrabad
June 20
The initiatives of the Government such as `offset policy' are throwing up many opportunities for Electronics Corporation of India Ltd (ECIL) and efforts are on to capture them for sustained growth and profitability of the company, according to Mr K.S. Rajasekhara Rao, Chairman and Managing Director, ECIL.
Delivering a lecture on `Potential of Indian PSUs - ECIL's experience' at the Institute of Public Enterprises (IPE) here, Mr Rao said the company had faced many challenges due to the globalisation and had incurred loss for the first time in 1997-98.
"However, we had put strategy in place to tide over the crisis. Today, ECIL is a profit-making company with a turnover of over Rs 1,000 crore and 4,800 employees," he said.
Internal processes
Mr Arun Kumar Rath, Special Secretary and Financial Advisor, Ministry of Steel, said streamlining of internal processes was an important task for keeping the PSUs in a healthy state.
Mr R.K. Mishra, Director, IPE, said health of public sector enterprises was vital for economic growth of the country.
Earlier, Mr Rath had formally inaugurated a five-day certificate course at the institute.
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