NEW DELHI: Finance Minister Nirmala Sitharaman on Thursday emphasized that the government has delivered on policies aligned with industry expectations, and now it is time for India Inc to increase investments and expand capacities.
Speaking at the IFQM Symposium, Sitharaman urged the industry to collaborate with the government in skilling the youth and maintain continuous engagement throughout the year, not just ahead of the Budget.
Responding to a question from Tata Sons chairman N. Chandrasekaran on the role of industry at this stage, she noted that Prime Minister Narendra Modi has consistently pursued reforms while addressing the industry’s priorities. Sitharaman highlighted the government’s achievements in enhancing ease of doing business, implementing tax reforms, liberalizing FDI norms, and framing industry-friendly policies.
“Today, the government has delivered a basket of initiatives. I hope there is no hesitation for the industry to invest further, expand capacities, and produce more in India. If there is anything more the government can do, let the industry spell it out,” she said.
Tata Sons chairman Chandrasekaran welcomed the call, noting that the government has provided significant opportunities both in the domestic and export markets. “I firmly believe that entrepreneurs, small and medium enterprises, and large corporates will step up their investments. Without such investment, we cannot fully capture the opportunity,” he said.
Highlighting India’s strategic role in global supply chains, Chandrasekaran added, “The world is seeking resilience and alternative sources. India is the best place for this, with the leadership the Prime Minister provides.”
Sitharaman also stressed the importance of the MSME sector as a major contributor to GDP. She said the government has ensured that the Small Industries Development Bank of India (SIDBI) maintains a physical presence in MSME clusters, reinforcing support even in the era of digital banking.
“Even today, while we discuss digital banking, we insisted that SIDBI remain present in each of these clusters,” she added.
