When India became independent in 1947, the country’s industrial base was very weak. To solve this and to end the exploitation by private monopoly companies, public sector enterprises were created, inspired by socialist ideas. Because India followed a mixed economic model, private industries also grew along with the public sector. However, over time, many public sector companies began to suffer losses due to several reasons: corruption among officials, lack of modern management practices, obstacles created by trade union activities, and excessive political interference. As a result, most public sector enterprises became a heavy burden on the national economy.

Air India, one of India’s largest public sector companies, had accumulated huge losses, and in 2022, the Central Government handed i

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