Sitharaman urges private companies to lead investment and research spending
The finance minister calls for stronger private participation in innovation as economic uncertainty persists.
Finance Minister Nirmala Sitharaman has urged private businesses to take a larger role in investment, including research and development, according to an Indian Express report updated on October 4.
Her argument is that resilience requires continuing preparation as uncertainty becomes a persistent feature of the economy. She linked stronger innovation capacity to both greater overall spending and a larger private-sector contribution.
The minister cited India's research expenditure at 0.83 per cent of GDP, against an OECD average of 2.7 per cent, with private businesses accounting for roughly a third of India's total. These figures are presented as her stated comparison in the report.
The policy message is a call for companies to commit more capital and research resources. It should not be read as a newly announced funding scheme, a change in tax rules or a guarantee of future investment. The next meaningful evidence will be actual business commitments and spending.