Economy

PSUs need roadmap for growth, exports: CII report

Our Bureau New Delhi | Updated on November 24, 2019

There is a need to create a short- and long-term roadmap for the public sector enterprises (PSEs) clearly laying down export and growth targets, according to a report by the Confederation of Indian Industry (CII).

The report titled, ‘Can the Indian PSEs enhance their geo-strategic reach’, pointed out domestic and external barriers, which are inhibiting the PSEs’ ability to enhance exports. Lack of autonomy, multiple procedures, management gaps lead to loss of potential business opportunities.

“Setting up a high-level export strategy committee will implement the five-point agenda set out by the Prime Minister for enhancing the competitiveness of Indian PSEs by 2022. A short-term (five years) and long-term (10 years) roadmap for the PSEs, clearly laying down exports and growth targets, is the order of the day to enhance their geo-strategic reach,” said Chandrajit Banerjee, Director-General, CII.

The report mentioned that many PSEs do not even have a dedicated international desk or in-house teams which can support exports and international competitive bidding. There are wide variations in terms of support available from the Nodal Ministry/Reporting Ministries of the PSEs.

“A well-defined process for sharing of information between the Indian Embassies, nodal ministries, PSEs and their associations is required,” recommended CII.

Need for tie-ups

The report also suggested the need to partner with innovative Indian start-ups and high technology companies in the private sector to offer more goods and innovative solutions in export markets.

Published on November 24, 2019

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