Invest in capacity creation, FinMin to industries

Finance Minister Nirmala Sitharaman said there are clear signs of an uptick in the economy and the industry should now start taking risks and invest in capacity creation that will help cut reliance on imports.

I appeal to industry not to further delay increasing capacity, not to further delay looking at areas to partner in technology, she said while addressing CII Global Economic Policy Summit 2021.

She also asked the industry to offer jobs to reduce income disparity and cut down on importing finished goods reduce and instead ramp up investment in manufacturing.

At a time when India is looking at impetus to growth, I want Indian industry to be a lot more risk-taking and understand what India wants, she said.

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