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coolgod

coolgod

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Exclusive: India to ditch privatisation plans, pour billions in state-run firms, sources say​

  • Summary
  • Companies
  • India planning to pour in $230-350 mln in ailing Pawan Hans, sources say
  • Government announced $1.3 bln plan to revive steel producer
  • Privatisation plans of 9 state-run firms on hold, according to document
  • Government mopped up $998 million via stake sales in 2024/25
NEW DELHI, Jan 27 (Reuters) - Indian Prime Minister Narendra Modi is pouring billions into ailing state-run firms after
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divestment plans that were intended to reduce the role of the state in business, according to government sources and a document reviewed by Reuters.
Less than a month into 2025, New Delhi has plans to invest about $1.5 billion in financial rescue packages for two state-owned firms after failing to sell them to private companies.

It has also decided to put in "abeyance" privatisation of at least nine state-owned units after opposition from relevant ministries, according to a document that detailed recommendations of a government panel set up to identify privatisation candidates. The document, reviewed by Reuters, did not cite reasons for the decision.
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The nine companies include Madras Fertilizers
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, Fertilizer Corp of India, MMTC
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and NBCC (India)
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, the document showed.
Housing and Urban Development Corp
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, that was also identified for privatisation, has now been 'exempted' implying it will not be sold, according to the document.
Among the state-owned companies being revived with government funding is helicopter operator Pawan Hans.
The government is planning to infuse around $230 million-$350 million in Pawan Hans to modernise its aging fleet of helicopters after four failed attempts to sell the company, two government sources said.
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PRIVATISATION SLOWDOWN
Four years since the privatisation policy was announced, the Modi government has had only three successes, out of which Air India's sale to the Tata Group was the largest. The other two were indirect holdings in steel-maker Neelachal Ispat Nigam Ltd to Tata Steel
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and Ferro Scrap Nigam to Konoike Transport Co
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. Other large sales have either been deferred or delayed.
The U-turn in policy was partly driven by the expectation that some large state-owned firms could be overhauled and made more profitable, helping the government earn dividend income, Reuters has reported previously.
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Political pressures on Modi have increased after he came back to power in mid-2024 only with the help of regional allies, making it more difficult to overcome opposition to privatisation by employee unions fearing job losses.
The sale of state refiner Bharat Petroleum Corp
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was rolled back in 2022 after failing to get suitors. The ongoing privatisation of Shipping Corp of India
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and BEML
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has been stuck for years due to complications over transfer of land holdings. The government has also been dragging its feet on the sale of a majority stake in IDBI Bank
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.
In previous years, privatisation formed an important part of the government’s plan to reduce its budget gap. But with the federal fiscal deficit seen falling to a more comfortable 4.9% of GDP in the 2024-25 year, the fiscal push for divestment has waned.
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India flip-flopping between privatization and nationalization, just like its old master the UK.
 
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S

StraightEdge

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coolgod said:
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Exclusive: India to ditch privatisation plans, pour billions in state-run firms, sources say​

  • Summary
  • Companies
  • India planning to pour in $230-350 mln in ailing Pawan Hans, sources say
  • Government announced $1.3 bln plan to revive steel producer
  • Privatisation plans of 9 state-run firms on hold, according to document
  • Government mopped up $998 million via stake sales in 2024/25




India flip-flopping between privatization and nationalization, just like its old master the UK.
Click to expand...

Idiots don't even know what they are doing. Even cats have more attention span than these policy makers. Maybe just build some more temples and oddly shaped tall statues, that's their level of intelligence
 
siegecrossbow

siegecrossbow

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coolgod said:
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Exclusive: India to ditch privatisation plans, pour billions in state-run firms, sources say​

  • Summary
  • Companies
  • India planning to pour in $230-350 mln in ailing Pawan Hans, sources say
  • Government announced $1.3 bln plan to revive steel producer
  • Privatisation plans of 9 state-run firms on hold, according to document
  • Government mopped up $998 million via stake sales in 2024/25




India flip-flopping between privatization and nationalization, just like its old master the UK.
Click to expand...

Have they considered that maybe how innovative a firm is has nothing to do with whether it is private or state owned but whether is has competition?
 
4Runner

4Runner

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Well, I integrated DS Platform API with my vscode setup on MacOS as well as Ubuntu and it works. Right now, DS is busy :) But the stock markets are in panic the way I have not seen for a long time.

One thing is for sure out of this DS Pre-CNY stampede is that "China cannot innovate" narrative is completely shattered.

Next up, as I just started to see in the past 2 days, is somewhat like "it is SeeSeePee Psyop" narrative.

Finally, I guess every other Chinese NEV maker outside HW is going to integrate DS into their cars, frontend and/or backend ......
 
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