Govt Plans ‘Champion CPSEs’ for Viksit Bharat by 2047
The Indian government is gearing up to introduce champion central public sector enterprises (CPSEs) as part of a strategic vision to transform the nation into a developed economy, targeting the year 2047. These initiatives, which aim to leverage sustained economic growth and technological innovation, have been formulated by NITI Aayog in collaboration with the finance ministry.
Objectives of Champion CPSEs
– Increased Flexibility: Champion CPSEs will benefit from enhanced autonomy in investment and other corporate decisions, enabling them to seize global opportunities that align with national strategic goals.
– Private Sector Talent Acquisition: These enterprises will also focus on attracting skilled professionals from the private sector, enhancing their talent pool.
– Operational Excellence: The roadmap will define measures to improve financial performance, technological capabilities, corporate governance, and operational efficiency.
NITI Aayog’s Roadmap
– The framework aims to create a dynamic ecosystem of CPSEs that support, rather than intrude upon, government initiatives designed to elevate India’s growth trajectory.
– Leveraging innovations from the Fourth Industrial Revolution—such as AI, IoT, digital twins, and 3D printing—will be a key focus for operational advancement.
– Government officials noted that these champion CPSEs will embody modern concepts, positioning them as pivotal to India’s development.
Evolution of CPSEs
– Recently, NITI Aayog member Rajiv Gauba spearheaded a meeting to align efforts on creating robust CPSEs built for the future.
– This initiative parallels governmental endeavors, like recent budget allocations aimed at fostering Micro, Small and Medium Enterprises (MSMEs) through targeted interventions.
Future-Ready Enterprises
– A deliberate selection of around a dozen entities—including Indian Rare Earths, Bharat Electronics, Mazagon Dock Shipbuilders, and the Nuclear Power Corporation of India—has been earmarked for systematic reforms.
– As of March 2025, India boasts 475 CPSEs, with 291 actively operational, highlighting the broad scope of this undertaking.
Conclusion
The government’s strategy to develop champion CPSEs marks a significant step towards realizing a progressive and developed India by 2047. By enhancing their operational capabilities and strategic roles, these public enterprises are set to play a critical part in the national economic agenda, driving growth and innovation for a Viksit Bharat.