DSIJ hosts PSU Awards 2013
Indian investment magazine, Dalal Street Investment Journal (DSIJ), on Wednesday organized the PSU Awards 2013, to honour the Public Sector Undertakings (PSU) for their performances, here.
The DSIJ Group conferred 18 awards in various categories.
As always and to ensure that fair weightage is given to all categories of PSUs, the selection panel of experts had advised that all awards be divided into three categories -Maharatnas, Navratnas and Miniratnas.
This ensured that the Miniratnas got a fair chance to be conferred with the prestigious DSIJ awards.
The selection criterion for the awards was comprehensive, as the selection panel looked at multitude of parameters to evaluate performance of the company and every parameter was evaluated over an extended period of time.
This was to ensure that each of the awardees truly deserve the award. The parameters included size, growth, wealth builders, valuable and efficiency.
At the award ceremony, DSIJ also launched a book containing information on PSU Maharatanas, Navratnas and Miniratnas. The book has been dedicated to the 15 lakh PSU employees of the nation.
Present at the occasion were T K A Nair, Adviser to Prime Minister, India and Pritam Singh, Director General International Management Institute, New Delhi.
The DSIJ PSU Awards 2013 demonstrated the continuing faith of the Dalal Street Investment Journal in the Indian PSUs.
DSIJ started PSU Award in 2009 and this year they will be celebrating the fifth edition of PSU Awards.
This year witnessed some of the biggest names in the PSU sector attending the event.
Reflecting on the occasion, T K A Nair said, "The contribution of PSU's in the development of the country and the economy has been commendable, particularly in the light of a tough economic environment, red tape and stiff competition. I do not subscribe to the view that Indian PSU's are at an advantage because of favorable govt. policies."
Nair said, "Infact, as per a global study, Indian CEO's spend the most time in 'managing the environment', and more so the CEO's of PSU's. Despite these challenges, what I want to highlight is, more than the physical resources, it is the quality of leadership at these public undertakings that has made all the difference. Therefore the single biggest goal before us, is to manage the human resources, nurture and motivate them."
He added, "A good team is the single biggest criteria to evaluate the prospects of an enterprise. Therefore a robust HR framework that identifies retains and rewards such talent needs to be devised, if we were to maintain our competitive edge in the future. I would also like to see a higher representation of women in PSU's across roles."
Sanjay Padode, Managing Director of DSIJ Pvt. Ltd. said, "Dalal Street Investment Journal, which has democratized wealth creation for more than 27 years has always recognized the contribution of Indian Public Sector Undertakings (PSUs) in building a robust society and economy for our nation. This recognition has manifested itself in the form of the most coveted 'DSIJ PSU AWARDS' since 2009."
Padode added, "These companies have been the pillars of the economy providing business opportunities for establishing the Indian Private sector whilst delivering on their social objectives of seeding development and prosperity in the country."
(Posted on 03-04-2014)