HAL bags PSE Excellence award

Hindustan Aeronautics Limited (HAL) has been conferred the PSE Excellence Award 2014 for ‘Corporate Governance & Innovation in Business’ by the Indian Chamber of Commerce (ICC) at the 5th Summit on “India: Public Sector Agenda” organised by the Indian Chamber of Commerce with the support of Department of Public Enterprises and Ministry of Heavy Industries.

HAL Chairman, R. K. Tyagi, received the award from Uttar Pradesh Ram Naik in New Delhi on Wednesday.

PSE Excellence Awards constituted in 2010, is an initiative to salute the industry game changers and recognise contributors to the Indian economy in view of the positive role played by the PSEs in addressing global demands.

A conclave was also organised to take view of PSEs space from a global perspective, highlight the achievements and check readiness of PSEs in global supply chain.

On the occasion, Dr. R K Tyagi said “although PSEs are a force to reckon with, there is an impending need to re-energise the public sector and focus on diversification to tap new markets.” He reiterated that HAL is committed to making Government’s ‘Make in India’ initiative a reality and help transform India as a manufacturing leader, said a press release issued by HAL.

Dr. Tyagi outlined an agenda on improving competitiveness of PSEs and also stressed on unshackling the potential wherein enterprises can contribute significantly to the GDP of our country. It is highly imperative that the PSEs be accorded with commensurate autonomy and flexibility for addressing technological, policy/operational, export and human resource related issues effectively.

Dr. Tyagi mapped out HAL’s future roadmap and highlighted that a major portion of India’s defence capital expenditure in future will be attributed to Air Defence platform modernisation. He stressed that HAL is making efforts to build strategic partnerships and boost our indigenisation efforts and has already developed a supplier base of over 2,400 business partners across the country, the release said.

source: http://www.thehindu.com / The Hindu / Home> Business / by Nagesh Prabhu / Bengaluru – December 08th, 2014

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