Union Minister for Heavy Industries and Steel H.D. Kumaraswamy on Friday, 6 November announced that Bharat Heavy Electricals Limited (BHEL) has set a profit target of ₹3,000 crore, while also assuring that the revival of the Hindustan Machine Tools (HMT) factory in Karnataka would be taken up at the earliest. Kumaraswamy made the remarks at the 71st Karnataka Rajyotsava celebrations hosted by the BHEL Kannada Protection Committee at the company's premises in Vijayanagar, Bengaluru.

BHEL's Turnaround Story

Kumaraswamy highlighted that BHEL's profit had grown from roughly ₹200 crore at the time he assumed charge as Union Minister for Heavy Industries to more than ₹1,500 crore in the current financial year. He attributed the turnaround not to ministerial intervention alone but to the workforce itself. 'From a profit of ₹200 crore, BHEL has now crossed ₹1,500 crore. We are working towards achieving a profit target of ₹3,000 crore. I would like to credit this achievement not to ourselves but to the workers who have put in their hard work,' he said.

The minister noted that the company had once been on a path of decline before corrective measures halted further deterioration. BHEL currently employs around 24,000 people, and Kumaraswamy expressed hope that this workforce would double in the coming years.

HMT Revival: Committee Recommendations Received

On the long-awaited revival of the HMT factory in Karnataka, Kumaraswamy said several rounds of meetings have already been held and that a committee headed by V.K. Saraswat, a member of the NITI Aayog, had been constituted. The committee's recommendations have been received, and a decision on the revival is expected shortly. He added that Prime Minister Narendra Modi had also provided 'several important suggestions and directions' on the matter.

Notably, four watches under the HMT Kannada series were released in Bengaluru on 1 November, coinciding with Karnataka Rajyotsava, following an earlier launch featuring the Gandabherunda — a symbol of Karnataka's heritage. Kumaraswamy said the watches had received an 'encouraging response,' with people reportedly standing in queues stretching for kilometres to purchase them.

Karnataka and Central PSUs: A Shared Identity

Speaking at the Rajyotsava event, the minister underscored the cultural and economic bond between Central public sector undertakings and Karnataka's identity. He said Kannadigas had been given significant opportunities at BHEL and occupied important positions in policy formulation and administration. Under Prime Minister Narendra Modi's leadership, Kumaraswamy said, the growth of public sector industries had been 'encouraging,' with BHEL positioned as a strategic manufacturing establishment making significant progress.

Key Attendees and Context

The event was attended by Padma Shri awardee Vijayalakshmi Deshamane, writer and presenter N.A. Someshwara, Rahul Devaraj, and BHEL Kannada Protection Committee honorary president Sa. Ra. Govindu, among others. The gathering underscored the intersection of public sector enterprise and regional cultural pride — a recurring theme in Kumaraswamy's ministerial outreach in Karnataka.

With the NITI Aayog committee's recommendations in hand and central-level attention on the HMT revival, the coming weeks are likely to prove decisive for the future of one of Karnataka's most storied industrial establishments.