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Source- This post on NHPC Limited Awarded ‘Navratna’ Status has been created based on the article “NHPC Limited accorded with ‘Navratna’ company status” published in “PIB” on 2nd September 2024.
Why in News?
Recently, NHPC Limited has been recognized with the prestigious ‘Navratna’ status by the Government of India, as announced by the Department of Public Enterprise under the Ministry of Finance.
Significance of Navratna Status
1. Enhanced Autonomy: NHPC will benefit from greater operational and financial autonomy, enabling quicker decision-making processes and increased efficiency.
2. Empowerment and Growth: This empowers NHPC to undertake significant capital expenditures (CAPEX) and investment plans, driving growth and expanding its market reach.
3. Innovation and Expansion: NHPC can now establish joint ventures, set up overseas offices, and explore new markets, fostering innovation and technological alliances.
4. Mergers and Acquisitions: The company will have greater leeway in pursuing mergers and acquisitions, enhancing growth and increasing market share.
5. The Navratna status will boost NHPC’s operational capabilities, enabling it to achieve long-term growth and market positioning. Also, with enhanced powers, NHPC can strategically expand its reach and leverage local expertise in new and existing markets.
Read more: About Miniratna, Navratna, and Maharatna
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