New Delhi, September 18 — Finance Minister Nirmala Sitharaman has called on Indian industry to step up investments and expand production capacities, asserting that the government has delivered on key reforms and created a conducive environment for business growth. Speaking at the Annual Symposium of the Indian Foundation for Quality Management (IFQM), Sitharaman emphasized that the time is ripe for India Inc to act decisively.
“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,” she said, highlighting reforms in taxation, ease of doing business, foreign direct investment (FDI), and infrastructure development.
The Finance Minister urged companies to engage with the government year-round, not just during pre-budget consultations. She also stressed the importance of industry participation in skilling youth, noting that many firms spend six to eight months training new hires before they are job-ready. “The industry should very quickly look at bridging the human resources insufficiencies, inadequate training… That element has to be done by all of us,” she added.
Responding to a question from Tata Sons Chairman N. Chandrasekaran, Sitharaman reiterated that Prime Minister Narendra Modi has consistently supported industry demands and reform agendas. Chandrasekaran acknowledged the government’s efforts, stating that the opportunities created are “enormous” and that increased private investment is essential to capitalize on both domestic and export markets.
Sitharaman also underscored the role of micro, small, and medium enterprises (MSMEs) in driving GDP growth. She noted that the Small Industries Development Bank of India (SIDBI) has been physically positioned in MSME clusters to support grassroots businesses, despite the rise of digital banking.
The government’s capital expenditure for April–July FY26 stood at 30.9% of the full-year budget estimate, marking a 32.7% increase over the same period last year. Sitharaman cited this as evidence of the Centre’s commitment to infrastructure-led growth and economic resilience.
The minister concluded by reaffirming that India’s path to becoming a developed nation—“Viksit Bharat”—will be guided not only by infrastructure but also by quality management and strategic interventions across manufacturing and services sectors.
