Private investment, R&D push vital for India's next growth phase: Sitharaman

Finance Minister Nirmala Sitharaman has called for a significant expansion in private investment and research and development expenditure as India enters its next phase of economic growth. Speaking on the policy priorities ahead, Sitharaman emphasized that strengthening the innovation ecosystem and building economic resilience will be critical in navigating an uncertain global environment.

The finance minister's remarks reflect growing recognition that India's growth trajectory will depend increasingly on private sector participation and domestic innovation capabilities. Higher R&D spending, both by government and industry, is seen as essential to develop homegrown technologies and reduce dependence on external sources amid rising global economic volatility.

Sitharaman's emphasis on private investment signals a shift toward market-driven growth mechanisms that can complement government spending. The dual approach of boosting R&D and attracting private capital is expected to address gaps in India's innovation infrastructure while creating new employment opportunities and strengthening manufacturing capabilities.

The comments underscore India's strategic focus on building long-term economic resilience through technological advancement and private sector dynamism, rather than relying solely on public expenditure to sustain growth in the coming years.