The Maharatna scheme was introduced by the Government of India in 2010 to grant greater autonomy to selected large Public Sector Undertakings (PSUs), allowing them more freedom in making investment decisions and expanding their operations globally. In 2010, the initial list of companies granted Maharatna status included Indian Oil Corporation (IOC), NTPC Limited, Steel Authority of India Limited (SAIL), Bharat Heavy Electricals Limited (BHEL), Gas Authority of India Limited (GAIL), Coal India Limited (CIL), and Oil and Natural Gas Corporation (ONGC).