We express our gratitude to Rajat Kathuria, Director and Chief Executive, ICRIER, for giving us the opportunity to work in this area and for his constant support. The objective of this paper is to provide inputs to the G20 Division of the Department of Economic Affairs, Ministry of Finance, and Department of Commerce, Ministry of Commerce and Industry. We are extremely grateful to the PSE Council of the Confederation of Indian Industry (CII) and would especially like to thank Amita Sarkar, Deputy Director General, Anjula Singh Solanky, Director-PSE Council, and Manjushree Reddy, Policy and Media Communication, CII, for arranging meetings with key experts and for their valuable inputs. We would like to thank their members who reviewed the earlier version of the paper and gave comments/inputs. The annual CII flagship event for the PSEs – ‘CII PSE Summit’ held on November 18, 2019, got us connected to key policy makers and other stakeholders such as Shri Sailesh, Secretary, and Shri R K Chaudhary, Additional Secretary, Department of Public Enterprises, Ministry of Heavy Industries and Public Enterprises, who provided us with key insights on PSEs and the various initiatives taken by the ministry to make PSEs globally competitive.