New Delhi: Prime Minister Narendra Modi, on Monday, stressed upon the qualities of Enterprise and innovation by saying that these must be the guiding principles in the 21^st century. He sought from them a road map within the next 100 days with timelines as part of efforts to build a New India by 2022.

While addressing a conclave for Central Public Sector Enterprises in New Delhi, he made it a point to urge them for working to achieve global greatness in the next few years.

“We have to ask ourselves how Indian public sector undertakings will achieve global greatness in the next five-ten years. How there should be maximum innovation, what improvement should be made in processes that leads to increase in revenue and creates new avenues of employment generation,” Prime Minister Modi said.

He said that importance of public sector is such that on fourth of the 500 biggest companies in the world belonged to it.

“Can I sit with some of you after a gap of 100 days. And I would like it, if you could educate me on the entire framework, datewise, who will complete whatever we have said today, saw today, heard today. Because even I have a lot to learn from you. I hope that exactly after 100 days you will give me details.. after deciding its complete roadmap and its responsibility,” Prime Minsiter Modi said.

He asked the public sector undertakings not to delay any type of payments of MSMEs as it can become problems for them.

Prime Minister Modi encourage CPSEs to provide help in making of New India along with the fact that changed in technology and processes and enunciated a5-P formula – Performance, Persona, Procurement and Prepare.

He talked about the importance of improving operational and financial performance, transparency and accountability in the all processes and procurement through the government e-marketplace platform and from micro, small and medium enterprises (MSMEs).

He also advised to get prepared for technological disruptions such as Artificial Intelligence, Quantum Computing and Robotics.

The Prime Minister talked about five challenges before the CPSE as part of efforts to build New India – which includes maximizing their geo-strategic reach by 2022, minimizing the country’s import bill, integrating innovation and research, optimally utilizing their CSR Fund and giving a new development model.

“Enterprise and innovation should be the guiding principles in the 21st century. Incentives, Imagination and Institution Building would be the three keys to success,” he said.

He gave a suggestion for the Indian PSUs that they can create links with foreign PSUs and develop a comprehensive strategy for overseas investment.

According to him PSE really means – profit and social benefit generating enterprise, which not only earns profit for shareholders but benefits the society.

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