Bengaluru, Aug 27 (IANS): Union Heavy Industries and Steel Minister H. D. Kumaraswamy on Tuesday said Prime Minister Narendra Modi's 'Aatmanirbhar Bharat' and 'Make in India' initiatives are having a positive impact on the industrial sector, acting as a lifeline for its growth.

The Union Minister made these remarks during his visit to the Bharat Heavy Electricals Limited (BHEL) Electronics Division, Bengaluru.

"The Prime Minister is taking significant steps towards the nation's overall development, and we are closely following him. In the pursuit of reviving public sector enterprises, all possibilities are being explored," he said while interacting with officials and workers of BHEL.

"The Prime Minister's objective is to make India the third-largest economic power, and under 'Make in India' and 'Aatmanirbhar Bharat' initiatives, Bharat BHEL will be further strengthened," he said.

Despite public sector industries in the country facing many challenges, BHEL continues to operate profitably, the Union Minister pointed out.

Hailing BHEL's "exceptional" contribution to the power sector, the Union Minister said the company, holding over 40 per cent market share in the thermal power sector, contributes to the Army and the space sector.

While BHEL is receiving large orders, its profits are not as satisfactory, he pointed out and stressed that it is the responsibility of the officials and workers to ensure that the company does not incur losses.

He cautioned that as the company is advancing rapidly amidst fast-growing technological innovations, it is important not to lose focus on adopting innovations and technologies.

Several review meetings have already been conducted at the ministry's office in New Delhi to assess the company's operations.

"The company is performing well, with good governance, a strong workforce, and technical expertise, placing it in a strong position. It is one of the best-performing public sector companies," the Union Minister said.

During his visit, he inspected all the divisions of the unit where he received updates from senior officials about the plant's operations.

Bengaluru has made significant contributions to the country's industrial sector.