The 'big jewels' of India shine bright under Narendra Modi government

India's most powerful public companies have performed well, partly because of favourable global conditions

According to the Government of India, Prime Minister (PM) Narendra Modi became the first person to address a conclave of public-sector enterprises in India after either Linlithgow or Wavell, two former governor-generals of colonial India in 1943. And 75 years later, Modi seems to have showered verbal goodies on India’s top Public Sector Enterprises (PSEs), with a hint of admonition.

Among many things Modi said at the conclave in New Delhi on April 9, he asked India’s most powerful and cash-rich public companies to transform themselves from “Maharatna (big jewels)” into the “Nav Bharat Ratna (jewels of New India)” and