Navratna Companies providing large Employment Opportunities to Indian Population

Public sector enterprises are indeed the backbone of Indian financial system, serving a wide area and carrying out activities to provide numerous products and services to the vast Indian population. In 1997, the Government of India conferred the title of Navratna to nine public sector companies giving them greater self-sufficiency to participate in the international market and supporting them in their endeavor to become large global entities. However, the number of PSEs with Navratna status has now increased to 16.

The different criteria set by the government for being eligible to get Navratna status are Schedule ‘A’ and Miniratna Category 1 grading, excellent or very good rating for minimum three Memorandum of Understanding in the last five years, and a score of 60% or above based on preceding three years’ performance to be judged on the following parameters:

•    Ratio of Net power to net assets
•    Ratio of Labour cost to cost of production or services
•    Gross margin as capital assets employed
•    Gross profit as revenue
•    Income per share
•    Inter-Sectoral comparison based on net profit to net assets

Some major Navratna companies are National Mineral Development Corporation Limited, Bharat Electronics Limited, Power Grid Corporation of India Limited, GAIL (India) Limited, Bharat Petroleum Corporation Limited, Hindustan Aeronautics Limited, Hindustan Petroleum Corporation Limited and Oil India Limited. These companies have been working for decades in major sectors like mining, oil and natural gas, electrical power generation, aeronautics, shipping telecommunication, iron and steel, fertilizers, etc.

From the viewpoint of different sectors that these companies serve, it can very well be deduced that the manpower requirement is also great. These enterprises are great employers and a number of employment opportunities are available with them. Every year a significant number of vacancies are being filled by such top ranked companies recruiting hundreds of people. However, job prospects differ with different companies. Various opportunities are there for civil engineers, electrical engineers, mechanical engineers, supervisors, managers, technicians and also for finance, and accounts, legal, telecommunication, marketing and medical experts. These top ranking companies advertise their vacancies every year in newspapers and websites and people in large numbers apply for these jobs.

In a nutshell, vast employment opportunities are there with these Navratna companies. In the first instance, these jobs seem to be very lucrative but getting selected is not easy. They select only skilled personnel in order to stand in the global competition.

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