By Samannay Biswas

Copyright timesnownews

Finance Minister Nirmala Sitharaman has called on Indian industry to step up investments and expand capacity, stressing that the Modi government has already delivered on key reforms demanded by businesses. Speaking at the IFQM Symposium, she urged India Inc to shed hesitation and take advantage of a favorable policy environment, pointing out that new reforms, including GST cuts worth Rs 2 lakh crore, are set to boost disposable incomes and fuel demand. Highlighting the government’s focus on ease of doing business, tax reforms, FDI liberalisation, and MSME support, Sitharaman said industry has a crucial role to play in India’s journey toward becoming a developed nation. She emphasized the need for a long-term growth vision that goes beyond infrastructure building and includes quality manufacturing and service sector improvements. She also noted that the Small Industries Development Bank of India (SIDBI) has been given a stronger physical presence in MSME hubs to strengthen grassroots businesses. Global agencies, meanwhile, remain cautiously optimistic about India’s private investment cycle. S&P Global has projected that Indian firms could invest up to USD 850 billion over the next five years, though large private capacity additions may take time. Crisil’s chief economist D.K. Joshi observed that while private investment is rising, it is not yet keeping pace with nominal GDP growth due to global uncertainties such as shifting trade policies and tariffs. Responding to Sitharaman’s remarks, Tata Sons Chairman N Chandrasekaran said the opportunities created by reforms are “enormous,” both for domestic growth and exports. He expressed confidence that more entrepreneurs and corporates would step up investments, calling India the “best place” for long-term growth, given the government’s leadership and global demand for resilient supply chains.