India's Top PSUs 2021

23 Some of the key objectives of the NMP are as follows: - • Shore up revenues of government and PSUs • Help reduce budgetary support for PSUs • Provide funds for new infrastructure creation • A positive spill-over effect in terms of creation of new jobs & investment opportunities While on one hand, the NMP seeks to monetize un-utilized and underutilized assets to mobilize resources and investments, the Government also has plans to spend around ` 111 trillion to upgrade infrastructure through the National Infrastructure Pipeline. Such a vision also calls for PSUs to modernize their systems, processes and approaches to running operations. With respect to modernization of systems and processes within PSUs, the Government has already initiated steps. For instance, the Government had launched several initiatives for the modernization of upgradation of facilities at defence PSUs and Ordnance Factory Boards in August 2020. As per information furnished by several Navratna CPSEs, a number of themwere relying on the use of virtual mode, IT tools and services for reducing costs in processes. Leveraging advanced technologies in the right manner can lead to limitless possibilities. Various Government departments are already using advanced technologies and portals tomonitor the implementation of key schemes and programs. Financial institutions have been using technologies to use data intelligently to make informed business decisions. Manufacturing PSUs are also beginning to invest in advanced solutions like ERPs and customer experience-enhancing tools/applications to provide personalized solutions. While there is a long way to go, the early signs are certainly positive. Although the pandemic has severely dented India’s growth story in the past year, India now has an opportunity to build a more resilient and future-ready economy on the foundation of futuristic infrastructure, digital transformation, sustainable & responsible growth, a skilled workforce and innovation. Indian PSUs can play a critical role in reinforcing the economy by focusing on building resilience and onmodernizing systems, processes and approaches. Dun & Bradstreet