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Business
Finance Minister Sitharaman urges private sector to drive investment and R&D
✍️ The Indian Express
🗓 04 Oct 2026, 06:38 AM
👁 9
Finance Minister Nirmala Sitharaman said the private sector must now spearhead the investment cycle, including research and development, to sustain growth.
Finance Minister Nirmala Sitharaman emphasized that the next phase of India's economic expansion should be powered by private‑sector investment, extending beyond capital spending to research and development activities. Speaking at a recent press briefing, she highlighted the need for businesses to take the lead in financing new projects and innovative ventures.
Sitharaman noted that while government programmes have laid the groundwork, fiscal constraints and the scale of required innovation demand greater private participation. She pointed to global competition where sustained R&D spending is crucial for maintaining technological edge and creating high‑value jobs.
The minister indicated that policy measures will be aligned to encourage private capital, including tax incentives, streamlined approvals and stronger public‑private partnerships. Analysts expect the call to translate into increased venture funding and corporate R&D budgets, bolstering India's growth trajectory.
Sitharaman noted that while government programmes have laid the groundwork, fiscal constraints and the scale of required innovation demand greater private participation. She pointed to global competition where sustained R&D spending is crucial for maintaining technological edge and creating high‑value jobs.
The minister indicated that policy measures will be aligned to encourage private capital, including tax incentives, streamlined approvals and stronger public‑private partnerships. Analysts expect the call to translate into increased venture funding and corporate R&D budgets, bolstering India's growth trajectory.