The Department of Public Enterprises (DPE) has cleared a proposal to grant Navratna status to state-run shipbuilder Garden Reach Shipbuilders & Engineers Ltd (GRSE), paving the way for enhanced financial and operational autonomy for the defence public sector undertaking.
According to officials, the proposal—formally moved last month by the Department of Defence Production under the Ministry of Defence—was referred to an inter-ministerial committee before receiving clearance from the DPE earlier this week.
“The proposal has now been cleared from our end and will be placed before an apex committee for final approval,” a senior official said, requesting anonymity.
Navratna status allows select central public sector enterprises (CPSEs) to undertake higher levels of capital expenditure and investments without prior government approval. The designation strengthens a company’s ability to form joint ventures, pursue strategic partnerships, and expand operations with greater agility in a competitive environment.
Kolkata-based GRSE, operating under the Ministry of Defence, is a key shipyard engaged in building warships for the Indian Navy and the Indian Coast Guard. The company has demonstrated strong financial performance, reporting a 39 per cent growth in total income to ₹5,411 crore in FY25. For the December quarter of the current financial year, GRSE recorded a 46 per cent year-on-year increase in total income at ₹1,958 crore.
There are currently 27 Navratna CPSEs in India. In December last year, the Centre approved the upgradation of Numaligarh Refinery Ltd to Navratna status, making it the 27th company to receive the designation.
If approved by the apex committee, GRSE will join the ranks of leading CPSEs with greater decision-making flexibility, further strengthening India’s indigenous defence manufacturing capabilities.