Industry should take risks, invest in capacity building- Finance Minister Sitharaman

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Union Finance Minister Nirmala Sitharaman said on Wednesday that there are clear signs of recovery in the economy and now the industry should also be ready to take risks and invest in capacity building.

Sitharaman, while addressing the CII Global Economic Policy Conference 2021, said that the industry should come forward to reduce the country’s dependence on imports. She said, ‘I appeal to the industry not to delay any longer in increasing the capacity.’

He said that industries will have to provide more employment to reduce income inequality. He also urged the industry to cut down on the number of imported finished products and increase investment in manufacturing.

Sitharaman said, ‘At a time when India’s eyes are on accelerating growth, at that time I want Indian industry to take more risks and understand India’s desire.’

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