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Revitalizing India’s Economy: ObserveNow Spotlights Top 5 Central Public Sector Enterprises at the Helm of Growth

Central Public Sector Enterprises (CPSEs) have long been the backbone of the Indian economy, playing a vital role in key sectors that directly impact citizens’ lives. Within no time a significant upswing in the overall performance of CPSEs across India has been witnessed, underscoring their relevance and contribution to the nation’s economic growth.

LIC (Life Insurance Corporation of India) emerged as the foremost Indian PSU firm in 2024, surpassing even banking giant SBI (State Bank of India) in terms of market capitalization. Both companies boasted market capitalizations exceeding ₹5 lakh crore, with LIC leading the pack at ₹5.66 lakh crore, slightly edging past SBI’s ₹5.60 lakh crore.

Below mentioned are the top performers in the CPSE sector:

  • OIL and Natural Gas Corporation stands out as a stalwart in India’s energy landscape. Established as an Indian crude oil and gas multinational corporation, ONGC plays a pivotal role in the country’s energy security, operating under the administrative control of the Government of India’s Ministry of Petroleum and Natural Gas.
  • National Thermal Power Corporationknown as India’s largest energy conglomerate, has been instrumental in driving power development in the country since its inception in 1975. With a presence across the entire value chain of the power generation business, NTPC continues to spearhead the nation’s energy transformation.
  • Gas Authority of India Limitedrecognized as a Navratna and Maharatna PSU, has been at the forefront of optimizing the effective use of natural gas for the benefit of the national economy. Established under the Ministry of Petroleum & Natural Gas, GAIL plays a crucial role in India’s energy diversification efforts.
  • Coal India Limited (CIL), the world’s largest government-owned coal producer, remains a cornerstone of India’s energy security. Headquartered in Kolkata, CIL is entrusted with meeting the nation’s coal demand while ensuring sustainable mining practices.
  • Indian Oil Corporation Limited (IOCL) which is India’s largest commercial enterprise, has earned global recognition for its excellence and innovation in the petroleum industry. Ranked among the Fortune ‘Global 500’, IOCL continues to drive India’s growth trajectory with its strategic initiatives and customer-centric approach.

Alongside LIC and SBI, several other CPSEs showcased commendable performances, consolidating their positions as key players in the Indian market. ONGC (Oil and Natural Gas Corporation) secured the third position with a market capitalization of ₹3 lakh crore, followed closely by NTPC (National Thermal Power Corporation), Coal India, Power Grid Corporation, and Indian Oil Corporation, each boasting market capitalizations exceeding ₹2 lakh crore. Further down the line, CPSEs like GAIL (Gas Authority of India Limited) and BPCL (Bharat Petroleum Corporation Limited) also demonstrated robust market capitalizations surpassing ₹1 lakh crore, reflecting their resilience and market strength.

The stellar performance of CPSEs underscores their pivotal role in fortifying the Indian economy. With companies like LIC, ONGC, NTPC, GAIL, Coal India, and IOCL leading the charge, CPSEs continue to drive innovation, sustainability, and inclusive growth, making them indispensable contributors to India’s journey towards prosperity and development.