Need India Inc to be a lot more risk taking, build capacity and understand what India is looking for: FM Nirmala Sitharaman

In the post-pandemic India, the priority of the government was to bring the economic back on track, Finance Minister Nirmala Sitharaman said, while speaking at Global Economic Policy Summit 2021 on Wednesday. The event was hosted by the Confederation of Indian Industry (CII). 

Exhorting India Inc to take more risks the FM said, “I want India Inc to be a lot more risk taking, build capacity and understand what India is looking for. We want the Indian Industry to come forward and expand.”. 

See Zee Business Live TV Streaming Below:

Sitharaman, who also holds a portfolio as a Minister for Corporate Affairs, also highlighted on the consumption situation adding that the festive season witnessed significant buying trends from the Indian consumers on the back of higher demand. 

She said that it can be attribute to “revenge shopping” but the government was closely watching the demand and sale situation, adding that people saw money getting back into their pockets.  

She further added that auto sector could have witnessed record sales had the industry not got disrupted by semiconductor and container shortages.  

On the infrastructure front, the spending has gone up by almost 34 per cent this year while the health infrastructure spending has seen a spike of 134 per cent. 

She also said that India has also been able to increase its skill value.

Among other things, she said that penetration of Bharatnet in rural parts of the country has been going at great speed. 

See Tweets: 

Whether you are building a road or mass housing, you need to be scaling up and speeding up and it is that work which would gain traction in Government policy and in the Government's funding initiative. ~ @nsitharaman, Hon'ble Min, @FinMinIndia & Corporate Affairs at #CIIGEPS2021 pic.twitter.com/earsbQCHRR

— Confederation of Indian Industry (@FollowCII) November 17, 2021

I have always held it as a principle that the compartments in which we would want to put demand side & supply side are fantastic only when you are in a classroom teaching students. ~ @nsitharaman, Hon’ble Minister, @FinMinIndia & Corporate Affairs at #CIIGEPS2021 pic.twitter.com/teqi283CDw

— Confederation of Indian Industry (@FollowCII) November 17, 2021

In the real economy, there is no water tank compartmentalization, the Indian economy has proved that. ~ @nsitharaman, Hon’ble Minister, @FinMinIndia & Corporate Affairs at #CIIGEPS2021

— Confederation of Indian Industry (@FollowCII) November 17, 2021

She also praised the vaccination drive undertaken in the country saying that the world was amazed at India’s feat.