ETGovernment organized the ‘3rd edition of National PSU Summit’ under ‘Azadi Ka Amrit Mahotsav ’, celebrating 75 years of India’s independence, in New Delhi on 20 May 2022. At the event, ETGovernment highlighted the exceptional work, achievements, and innovations of Public Enterprises, which tirelessly leverage technology and innovation to make governance better.

CMD and Director (HR) Dr Alka Mittal addressing the 3rd edition of the National PSU Summit-2022

Speaking during a panel discussion on ‘Digital Strategy at PSUs in making way for Self-Reliant and Remain Globally Competitive’, ONGC CMD and Director (HR) Dr Alka Mittal said that adopting digital technologies “is vital in our business, starting from exploration to get a better understanding of sub-surface and all across our business value chain to reduce business risk.”

Sharing the role of ONGC in the Indian economy, Dr Mittal stated that the Energy Maharatna is also increasing the share of gas in the country’s energy basket in accordance with Prime Minister Narendra Modi’s vision of achieving 15 per cent share of gas by 2030.

CMD speaking on digitization in ONGC, including the launch of UPI and GeM

“Technology empowers us to achieve such strategic ambitions. ONGC top management is constantly surfing for the best of technologies to enable us to contribute to national energy security,” she informed the gathering.

Apart from technological innovation, CMD asserted that ONGC is also looking forward to decarbonizing the entire value chain. “We are collaborating with institutions and international majors for oil and gas production enhancement, including offshore wind and other sources of renewable energy. We have entered into agreements with Norway’s Equinor and US-based ExxonMobil,” Dr Mittal added.

At the same time, ONGC is also looking at difficult solutions in extracting geothermal energy in Ladakh very soon, she noted. “Our overseas arm, ONGC Videsh, is looking out for new ventures all across the world for national energy security. The industry is collectively contributing to securing energy for the developing economy,” CMD said.

CMD Dr Mittal being presented with a memento on the occasion from ETGovernment Editor

Meanwhile, Chairman of Indian Oil Corporation Ltd (IOCL) Shrikant Madhav Vaidya asserted that IOCL is another government-owned oil and gas explorer and producer that supplies around 50% of India’s energy to customers. “Primary energy growth in India is nearly 3.3% annually. It is different from western economies. Our targeted economic goal will demand significant energy. Here biofuel will play an important role,” Mr Vaidya explained.

IOCL is simultaneously working on research and development to remain competitive and reduce import dependence, he said, adding, “Green hydrogen and renewables will emerge as important sources of energy in near future”.

CEO of NTPC Renewable Energy Ltd, Mohit Bhargava said on the occasion that the statutory corporation is trying to develop a strong renewable portfolio as strong as a fossil fuel-driven power. “We can’t abandon coal. New India is very aspirational, it needs at least 15% additional energy every year, but at the same time, New India also needs ‘clean energy’,” he said.

However, some traditional industries like fertilizer and cement need to reduce emissions as soon as possible, noted Mr Bhargava as he asserted that NTPC Group wants to create solutions that will provide round-the-clock green power. Agreeing with Mr Vaidya points, Mr Bhargava reiterated that green energy will emerge as a major source of power in India in the coming years.

Speaking about the tech adoption, Chairman and MD, Bharat Heavy Electricals Limited (BHEL), Nalin Shinghal said that not only for India@75, but beyond as well, the target for PSUs now is to be globally competitive. “Paperless type of things are hygiene factors, today. Basically, our people have to be enabled. The journey now for India is from coal to clean coal,” Mr Shinghal added.

One for the album

The one-day physical summit discussed and highlighted the preparedness and readiness of PSUs to increase the international competitiveness of industrial production and also foreign investments and technology into the economy.

The top management of Indian PSUs and their workforce, for several years, have been striving hard to create opportunities and intellectual properties with their ideas and actions. The 3rd edition, themed on ‘Digital Strategy for New India @75’, will also mark the significant achievement and digital strategies of PSUs to enhance the country’s indigenous capabilities while celebrating the observance of ‘Azadi Ka Amrit Mahotsav.’