Dr Subramanian Swamy, eminent economist and Rajya Sabha member delivered the 18th edition of Nalco Lecture Series on ‘Relevance of PSUs in Shaping New India’ here on Saturday.
Dr Swamy said, “The public sectors are important for the development of India and these sectors need to be encouraged to prosper. The PSUs should be given freedom to take decisions and operate in sync with the market dynamics.”
He stressed that the public sector should move beyond profit-making and focus on multidimensional objectives. There are certain sectors that can be explored and developed by the public sectors only. The PSUs also need to be ready to compete in terms of commercial principles, he said.
“India should recognise the strength of the PSUs,” Dr Swamy added.
He appreciated the Nalco’s contribution as an integrated business entity to the Indian aluminium sector in particular and Indian economy as a whole.
In his welcome address, Nalco CMD Sridhar Patra said that as a Central PSU, the Nalco has always given priority to boost the country’s economy and serve the interest of the nation through continuous improvement in production, productivity and profitability and also works beyond profitability for promoting social and economic development through its CSR arm.
“The company is dedicated to work towards the sustainable development of the nation and Indian industry in years to come,” he added.