BHEL targets Rs 3,000 crore profit; HMT factory to be revived soon: Kumaraswamy

Bengaluru: Union Minister for Heavy Industries and Steel H.D. Kumaraswamy on Friday said Bharat Heavy Electricals Limited (BHEL) has set a target of achieving a profit of Rs 3,000 crore, while assuring that steps would be taken to revive the Hindustan Machine Tools (HMT) factory in Karnataka at the earliest.

Speaking at the 71st Karnataka Rajyotsava celebrations organised by the BHEL Kannada Protection Committee at the company's premises in Vijayanagar, Bengaluru, Kumaraswamy said BHEL's profit had increased from around Rs 200 crore when he took charge as Union Minister for Heavy Industries to more than Rs 1,500 crore in the current financial year.

Under the leadership of Prime Minister Narendra Modi, the growth of public sector industries under the Central government was encouraging, he said, adding that BHEL was among the strategic manufacturing establishments that had made significant progress and was now firmly moving towards profitability.

"I am happy to be part of the Karnataka Rajyotsava celebrations being held at an important industrial establishment like BHEL," he said.

Highlighting the contribution of Central public sector industries to Karnataka's cultural heritage, Kumaraswamy said such establishments had become an integral part of the state's identity. He pointed out that Kannadigas had been given significant opportunities at BHEL and were occupying important positions, playing a leading role in policy formulation and administration.

Recalling the difficult phase faced by BHEL, he said the company had once been heading towards a decline, but corrective measures had prevented further deterioration.

"From a profit of Rs 200 crore, BHEL has now crossed Rs 1,500 crore. We are working towards achieving a profit target of Rs 3,000 crore. I would like to credit this achievement not to ourselves but to the workers who have put in their hard work," he said.

The factory currently employs around 24,000 people, and its workforce should double in the coming years, he added.

Referring to HMT's revival, Kumaraswamy said four watches under the HMT Kannada series were released in Bengaluru on November 1, coinciding with Karnataka Rajyotsava. Earlier, HMT watches featuring the Gandabherunda, a symbol of Karnataka's rich heritage, had also been launched.

He said the watches had received an encouraging response from Kannadigas and urged people to make HMT watches a part of their daily lives.

"Young people are standing in queues stretching for kilometres to purchase HMT watches. People across age groups are showing interest in buying and wearing them," he said.

Kumaraswamy said efforts were underway to revive the HMT factory and several meetings had already been held to take important decisions in this regard.

A committee headed by V.K. Saraswat, a member of the NITI Aayog, had been constituted and its recommendations had been received. A decision on the revival of the factory would be taken at the earliest, he said, adding that Prime Minister Narendra Modi had also given several important suggestions and directions on the matter.

Padma Shri awardee Vijayalakshmi Deshamane, writer and presenter N.A. Someshwara, Rahul Devaraj and BHEL Kannada Protection Committee honorary president Sa. Ra. Govindu were among those present at the programme.

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