New Delhi: The Prime Minister Narendra Modi-led government has strengthened India’s public sector undertakings (PSUs) in the last 11 years, turning them into wealth creators and making them integral to the nation’s growth, the data-focused X handle infoindata showed.
With focused reforms, strategic autonomy, and capital support, PSU market cap surged across the energy, power, and infrastructure sectors.
While NTPC saw its market cap reach Rs 3.27 lakh crore in 2025, from 0.99 lakh crore in 2014, Power Grid saw its market cap touch Rs 2.80 lakh crore in 2025, from 0.55 lakh crore in 2014 (till June 9), as per data sourced from the DIPAM and the Department of Public Enterprises.
Other PSUs like IOCL, Power Finance, BPCL, GAIL, NHPC, BHEL, etc, also saw a meteoric rise in their market caps in the last 11 years.
On the other hand, the market cap of public sector banks (PSBs) also surged in the last 11 years.
The SBI saw its market cap reach Rs 7.32 lakh crore in FY26, from Rs 1.51 lakh crore in FY16.
PNB saw its market cap touch Rs 1.29 lakh crore in FY26 from 0.06 lakh crore in FY16, while Bank of Baroda's market cap reached Rs 1.28 lakh crore from 0.34 lakh crore in the same time frame, as per the data.
"In 11 years, the Modi government transformed public sector banks from the NPA crisis of the UPA era to record market capitalisation through structural reforms such as asset quality review, bank mergers, targeted recapitalisation, and measures to resolve bad loans," said infoindata on X.
