Ministry of Heavy Industries Holds Annual Performance Review Conference for CPSEs

New Delhi: The Ministry of Heavy Industries (MHI) hosted a conference today at Vigyan Bhawan to conduct the Annual Performance Review of Central Public Sector Enterprises (CPSEs) under its jurisdiction. The event was chaired by Union Minister for Heavy Industries and Steel, H.D. Kumaraswamy, with participation from Shri Kamran Rizvi, Secretary, Heavy Industries, senior officers of the ministry, and CMDs of the CPSEs.

In his keynote address, H.D. Kumaraswamy emphasized the critical role of CPSEs in achieving Prime Minister Narendra Modi’s vision of elevating India to one of the top three global economies. Highlighting India’s current standing as one of the world’s five largest economies, the Minister urged CPSEs to accelerate their efforts to support the nation’s growth while ensuring that development is sustainable and environmentally friendly.

“The Ministry of Heavy Industries has the responsibility of shaping India’s future, especially in sectors like engineering and automotive, which are crucial to our economy’s advancement,” Kumaraswamy stated. He stressed the need for CPSEs to contribute significantly to the government’s initiatives such as the Production Linked Incentive (PLI) schemes, FAME scheme for electric vehicles, and efforts to bolster domestic manufacturing.

CPSEs, which are engaged in diverse sectors including the production of salt, cement, watches, and electric vehicles, were evaluated using the Memorandum of Understanding (MoU) evaluation system. This framework assesses each CPSE’s effectiveness in meeting its objectives and aligning its efforts with national priorities. The evaluation allows companies to overcome challenges and focus on enhancing efficiency and innovation, contributing to India’s vision of becoming a self-reliant and economically powerful nation.

Kumaraswamy also underscored the importance of indigenization, urging CPSEs to avoid cost escalations and ensure the timely completion of national projects, in line with the Prime Minister’s vision of ‘Viksit Bharat – 2047’. He reiterated that CPSEs are more than commercial entities; they are strategic national assets essential to infrastructure development, self-reliance, and global competitiveness.