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Business
Sitharaman Calls for Private Investment and Increased R&D in India's Next Economic Phase
✍️ Business Standard
🗓 04 Oct 2026, 09:38 AM
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Finance Minister Nirmala Sitharaman said that the next phase of India's economic strategy will require significant private sector investment and a higher spend on research and development.
Finance Minister Nirmala Sitharaman has underscored the need for private sector investment and a higher research and development (R&D) outlay in India’s forthcoming economic phase.
In a statement released to Business Standard, she highlighted that sustained growth will hinge on increased participation from private enterprises and a stronger focus on innovation.
Sitharaman added that boosting R&D spending is essential for India to move up the value chain, enhance productivity, and secure long‑term competitiveness.
The remarks come as the government seeks to attract more foreign investment and strengthen domestic innovation ecosystems.
In a statement released to Business Standard, she highlighted that sustained growth will hinge on increased participation from private enterprises and a stronger focus on innovation.
Sitharaman added that boosting R&D spending is essential for India to move up the value chain, enhance productivity, and secure long‑term competitiveness.
The remarks come as the government seeks to attract more foreign investment and strengthen domestic innovation ecosystems.