New Delhi: In a significant acknowledgment of India’s rising global stature, Union Minister Dr. Jitendra Singh highlighted the nation’s achievements across various sectors at the inaugural “ET Government PSU Awards,” organized by the Economic Times. The event celebrated the pivotal role of Public Sector Units (PSUs) in propelling India’s economic growth and development.
“India today excels in most of the global benchmarks. In some areas, it is at par with other big nations, whereas in other areas it is much ahead of them,” stated Dr. Singh. As the Union Minister of State (Independent Charge) for Science and Technology, Earth Sciences, and other key departments, he underscored the transformative contributions of PSUs to the Indian economy.
Dr. Singh lauded the PSUs for their unwavering commitment to excellence, which has significantly contributed to India’s economic ascension from the 10th to the 5th largest economy in recent times. “The rise of the Indian economy has been possible due to the contribution of PSUs,” he affirmed.
The minister highlighted India’s impressive leap in the Global Innovation Index, where it now stands at the 40th position globally, a remarkable improvement from the 81st rank in 2014. This advancement, Dr. Singh noted, is a testament to the PSUs’ adherence to global benchmarks and standards.
Further emphasizing India’s pioneering efforts, Dr. Singh spoke about the National Quantum Mission, placing India among the elite group of five or six nations at the forefront of quantum research. This mission, with applications ranging from space exploration to cryptography, is a priority initiative of the government.
“The reason why Indian PSUs have excelled in present times is because they have given up the hesitation to incorporate private players,” Dr. Singh said, acknowledging the strategic shift towards greater collaboration with the private sector.
The event also featured the recognition of exemplary PSUs in various categories. Hindustan Aeronautics Limited (HAL) received the Gold Award for Skill Development, while BHASHINI was honored with the Gold Award in the adoption of AI and Predictive Technology. Other notable recipients included HPCL for Employee Self-Service, BHEL for Indigenous Technology Adoption, and awards for CDAC and EESL in their respective categories.