Finance Minister Nirmala Sitharaman on Tuesday sought to know from business what’s holding it again from investing in manufacturing, though overseas traders present confidence in India.
Drawing parallel between India Inc and mythological character ‘Hanuman’, Ms Sitharaman mentioned the federal government is prepared to interact with the business and take coverage motion.
“This is the time for India… We cannot miss the bus,” she added.
She mentioned the federal government has introduced in manufacturing linked incentive scheme, minimize tax charges to encourage the home business to spend money on manufacturing.
“No policy can be end in itself.. it keeps evolving as we go on. That applies even to industries that have come in the sunrise sector for which we have given policy support through an incentive.
“I would equally want to know from the Indian industry why is it that they are hesitant (to invest)…. We will do everything to get the industry come and invest here..(but) I want to hear from India Inc what’s stopping you?,” she mentioned.
Speaking on the Mindmine Summit, the minister mentioned international locations and industries overseas suppose India is the place to be in now and that is mirrored in FDI and FPI inflows and confidence amongst inventory market traders.
“Is it like Hanuman ? You do not consider in your individual capability , in your individual energy and there acquired to be somebody standing subsequent to you and say you’re Hanuman, do it? Who is that individual going to inform Hanuman? It cannot actually be the federal government,” Ms Sitharaman added.