Finance Minister Nirmala Sitharaman has exhorted Indian industrialists to invest, asking what was stopping them from doing so at a time when the entire world was putting money into India.
"Since 2019, when I took charge of the finance ministry, I have been hearing industry doesn't think it's (environment) conducive. Alright, the (corporate) tax rate was brought down. I keep defending the industry even when people provocatively ask me what I would like to tell the private sector," Sitharaman said on September 13 while speaking in the national capital at the 15th Mindmine Summit.
"We will do everything to get industry coming and investing here. Give PLI (production linked incentive scheme)? We have given PLI. I want to hear from India Inc: what's stopping you?"
The finance minister's comments come at a time when the government has continued its investment push in an attempt to crowd in private investment and revive growth on a durable basis.