Finance Minister Nirmala Sitharaman on Thursday emphasized that while the government has fulfilled the expectations of India Inc through supportive policies, it is now up to the industry to invest more, expand capacities, and contribute to a stronger economy. Speaking at the IFQM Symposium, Sitharaman highlighted the government’s efforts in promoting ease of doing business, tax reforms, foreign direct investment (FDI), and industry-friendly policies. “Today, the government has delivered on multiple fronts. I hope there is no hesitation for the industry to invest further, expand capacities, and produce more in India.

The finance minister also called for a deeper industry-government partnership beyond the pre-Budget season, urging businesses to collaborate in skilling youth and building robust supply chains. Responding to a question from Tata Sons Chairman N Chandrasekaran, Sitharaman noted that Prime Minister Narendra Modi has consistently prioritized reforms while addressing industry demands. Chandrasekaran added that the opportunities created by the government are vast, both domestically and internationally, and stressed that investments by entrepreneurs and corporates are essential to capture them. Sitharaman further underlined the importance of micro, small, and medium enterprises (MSMEs), describing them as the backbone of India’s GDP. She highlighted that the Small Industries Development Bank of India (SIDBI) continues to maintain a physical presence in MSME clusters despite the growth of digital banking.

On supporting states, she mentioned that the Centre has provided ₹3.6 trillion to 22 states over the past four years under a 50-year interest-free loan scheme, helping states boost capital expenditure by over 10% from their own resources. Highlighting infrastructure achievements over the past 11 years, she noted operationalization of 88 airports, laying 31,000 km of new rail tracks, quadrupling Metro networks, doubling port capacity, and expanding national highways by 60%.

Speaking on GST reforms at the Next Gen GST Reforms program in Visakhapatnam, Sitharaman said the changes have returned at least ₹2 trillion to the economy, increasing disposable income for citizens. She highlighted the reduction of GST rates for many items and the increase in taxpayers to 15.1 million from 6.5 million since the introduction of the tax, calling the benefits of GST reforms “ten times greater than incentives given to industries.” With supportive government policies in place, the finance minister’s message was clear: the baton now passes to India Inc to invest, expand, and seize the opportunities for building a stronger, self-reliant economy.