New Delhi: The Department of Public Enterprises (DPE) has cleared a proposal to grant Navratna status to state-run shipbuilder Garden Reach Shipbuilders & Engineers Ltd (GRSE) earlier this week, a move that would give the company greater financial and operational autonomy, officials said.
Last month, the Department of Defence Production under the defence ministry formally moved the proposal to the DPE, which was subsequently referred to an inter-ministerial committee.
“The proposal has now been cleared from our end and will be placed before an apex committee for final approval,” a senior official told ET, requesting anonymity.
Navratna status allows select central public sector enterprises (CPSEs) to make larger investments without prior government approval, enhancing their ability to compete, form joint ventures, and expand operations more swiftly.
GRSE, a Kolkata-based defence public sector shipyard under the defence ministry, primarily builds warships for the Indian Navy and the coast guard. The company’s total income grew 39% in FY25 at ₹5,411 crore. For the December quarter of this financial year, GRSE posted a 46% year-on-year surge in total income at ₹1,958 crore. There are 27 Navratna companies currently. Last December, the Centre approved the upgradation of Numaligarh Refinery Ltd in Assam to Navratna status, making it the 27th CPSE to win the designation.
