Finance Minister Nirmala Sitharaman said on Wednesday that there are clear signs of recovery in the economy. He said that now the industry should be ready to take risks and invest in capacity building. Addressing the CII Global Economic Policy Summit 2021, Sitharaman said that the industry should come forward to reduce the country's dependence on imports.
The Finance Minister said that I appeal to the industry not to delay any longer in increasing the capacity. He said that industries have to be given more employment to reduce income inequality. Nirmala Sitharaman also urged the industry to cut down on the number of imported finished products and increase investment in manufacturing. She said that when India's eyes are on accelerating growth, at that time I want Indian industry to take more risks and understand India's desire.
It is noteworthy that earlier the Governor of Reserve Bank of India (RBI) had also talked about increasing private investment. Shaktikanta Das said a day ago that all the macro indicators of the economy which has been hit by the Kovid-19 epidemic are pointing to the strengthening of the economic recovery. However, the RBI governor called for an increase in private capital investment to be sustainable for economic growth. He said that the Indian economy has the potential to grow at a reasonable pace, but for that it is necessary to increase the investment of private capital.