Domestic PSUs touched $383 billion turnover in FY12: Study
Quotes

Domestic PSUs touched $383 billion turnover in FY12: Study

Last Updated: Monday, April 15, 2013, 20:39
 
 Comment 0
 
Domestic PSUs touched $383 billion turnover in FY12: Study
Bangalore: The government owned companies, or PSUs, in India registered USD 383 billion turnover in 2011-12 with a revenue growth of 11 percent since 2009, says a study.

According to a study by globalisation advisory firm Zinnov, the public sector in India gives employment to 1.4 million people and 40 percent of PSUs operate in the manufacturing sector.

The report highlighted that investment in technology is a key trend shaping up the growth of the sector.
PSUs are looking at investing in technology to help address the challenges they faced in early years of transition towards establishing a more transparent and accountable organisation, reduce the cost of production and enhance productivity and customer reach, the report said.

Energy and BFSI are the major PSU verticals for IT investments, it added.

The report also mentioned some of the major challenges which have impacted the growth of the Indian PSU sector.

At present, the major challenge faced by the PSU sector is the 'talent related challenge' resulting in lack of performance incentives in terms of recognition and accelerated growth paths for workforce, giving rise to productivity challenges.

In addition to this, it said, other challenges like lack of quantitative benchmarks against domestic private companies or global equivalents is affecting the performance of the sector while broad-based decision making structure (stakeholders with overlapping responsibilities) is resulting in the lack of accountability.

PTI



First Published: Monday, April 15, 2013, 20:39


Comments


comments powered by Disqus
India`s top ten billionaires
India`s top ten billionaires
Pradhan Mantri Jan Dhan Yojana - In Pics
Pradhan Mantri Jan Dhan Yojana - In Pics
Apple Smartwatch unveiled
Apple Smartwatch unveiled
Apple iPhone 6, iPhone 6 plus
Apple iPhone 6, iPhone 6 plus
Samsung Galaxy Tab 4 Nook
Samsung Galaxy Tab 4 Nook

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved