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Finance Minister Nirmala Sitharaman on Thursday called upon Indian industry to shed any remaining hesitation in investing, expanding capacities, and boosting production, while also urging closer collaboration with the government on skilling the workforce.
Speaking at the Indian Foundation for Quality Management event in the capital, Sitharaman said industry should clearly spell out what more is required from the government to accelerate growth. "I hope there is no more hesitation for industry to invest further, expand capacities, produce more in India, and what else is required by the government to do -- spell them out," she told business leaders. Highlighting Prime Minister Narendra Modi's consistent reform push, Sitharaman said, "You have a prime minister in this country who you have known for decades, from his days as Chief Minister of Gujarat, and he's never relented on reforms." The Finance Minister underscored the need for industry to play a greater role in addressing human resource gaps. "Many graduates today are not adequately trained or groomed to meet the demands of large multinationals or Indian companies. Industry often spends six to eight months making new recruits job-ready. That preparation should already be part of what students learn before they apply for jobs," she said. She laid out three key expectations from industry: 1. Investment push - to expand and scale up production in India. 2. Partnership in skilling - to ensure youth are employment-ready without long training gaps. 3. Continuous engagement with government - not just around the Union Budget but throughout the year. Calling for academia, students, and business leaders to work in tandem, Sitharaman said quality management must become part of every sector. She praised the two-day symposium for bringing together diverse stakeholders, noting that such discussions help policymakers frame more effective initiatives. The Minister also pointed out that recent Union Budgets have consistently allocated funds for skilling initiatives, not merely for training courses but through partnerships with institutions that have robust plans for workforce development. "Skilling cannot begin and end with short-term courses; it has to be an ongoing effort," she added. (ANI)
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