FM Nirmala Sitharaman asks industry to start taking risks

New Delhi: Finance Minister Nirmala Sitharaman said on Wednesday that the economy is showing signs of improvement, and that businesses should start taking chances and investing in capacity building to reduce dependency on imports. "I appeal to the industry not to delay boosting capacity and looking at areas to cooperate in technology any longer," she said at the CII Global Economic Policy Summit 2021.

She also pushed the industry to create jobs in order to alleviate income disparities and to reduce finished goods imports in favour of increased manufacturing investment. "At a time when India is searching for development spurts, I want Indian industry to take greater risks and grasp what India wants," she said.

Economic Advisory Council to the Prime Minister (EAC-PM) Bibek Debroy said that India's economy is moving toward a higher growth trajectory and is expected to grow at around 10 percent in 2021-22. "I am certain that we are on track to achieve faster growth, lower poverty, increase employment, and an affluent, developed, and well-governed India.I think it is, more or less, agreed that the real rate of growth this year (FY2022) is going to be around 10 percent," Debroy said at an SBI event

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