New Delhi, Sep 18: Finance Minister Nirmala Sitharaman on Thursday said the government has delivered on industry’s long-standing expectations through reforms and policy measures, and it is now time for corporate India to ramp up investments, expand capacities, and strengthen India’s growth momentum.
Speaking at the IFQM Symposium, Sitharaman underlined that Prime Minister Narendra Modi’s government has consistently pushed reforms and responded to the industry’s wishlist. “Today I have a basket of things on which the government has delivered… I hope there is no more hesitation for the industry to invest further, to expand capacities, produce more in India. And what else is required by the government to do, spell them out,” she said.
The finance minister highlighted initiatives in ease of doing business, tax reforms, liberalisation of FDI, and targeted measures for MSMEs. She also urged industry leaders to partner with the government in skilling youth and maintain continuous engagement throughout the year, not just before the Union Budget.
Responding to Sitharaman’s call, Tata Sons Chairman N Chandrasekaran said India offers unprecedented opportunities both in the domestic and export markets. “I firmly believe that more entrepreneurs, more small and medium companies and big corporates, would make a lot of investments. I’m very confident, because without that investment, we will not be able to capture the opportunity,” he said.
Chandrasekaran stressed that global supply chains are seeking resilience and alternatives, and India is well-positioned to meet this demand under PM Modi’s leadership.
Sitharaman further noted that MSMEs remain the backbone of the economy and the largest contributor to GDP. She pointed out that the government has ensured the Small Industries Development Bank of India (SIDBI) is physically present in MSME clusters across the country. “Even in this day and age when we are talking about digital banking, we insisted that SIDBI would be present in each of these clusters,” she added.
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