PSUs green signal to private firms

PSUs green signal to private firms

By agencies   |   Wednesday, 19 April 2006, 07:00 Hrs
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BANGALORE: Sending a move on signal to Private Firms, well known Public Sector Units (PSUs) like Engineers India limited (EIL), BEML and BEL have called Private firms to assist them in different section.

EIL has tied-up with KMG InfoTech, a Bangalore based IT service company to assist in plant maintaining service. Construction giant BEML is in search for private partner to expand its IT division. Whereas, BEL is willing to tie up with a foreign company to bid for project to share the work of the company.

India is having number of Public sectors, and decision shows that PSUs are no more an old factory. Present competitions have compelled them to think constructively to develop the company and compete with private sector.

Most of the Indian PSUs have strong base in the market and strong domain knowledge and even have good group of IT professionals. However their professionals have not tried to maintain the pace in tech sector, KMG Infotech’s Managing Director, Rahul Gupta said.

Accroding to the industry think tank, this trend will help PSUs to grow with a same pace as Private sector. This big change will drive business from non-government domain and it can attract more foreign investment to the country.

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