Finance Minister compared Indian companies with Hanuman: Says industry not aware of own strength

Finance Minister Nirmala Sitharaman compared Indian companies to Lord Hanuman. Nirmala Sitharaman said at the Hero Mindmine Summit on Tuesday (September 13) that Indian companies do not have faith in their ability and strength like Hanuman Ji.
Nirmala Sitharaman asked Indian companies that when other countries are showing confidence in India, then what is stopping them from investing in the manufacturing sector? Other countries and foreign industries think that India is a very good place for business.
The Finance Minister further said, 'FDIs and FPIs are coming to India. Retail investors believe in India, so who is stopping Indian industries?' He said, 'Are Indian companies like Hanuman Ji that they do not believe in their ability and strength.'
The Finance Minister said that the NDA government will do everything possible to encourage businesses to invest in India and will also offer necessary programs. He said that other policies like tax breaks and production-linked incentives (PLIs) have already been implemented to boost India's private sector.
He said that due to measures like PLI, many more businesses are considering shifting their manufacturing operations from China to India.
Sitharaman said that in the next 25 years, India should focus on seeing how it can benefit from the workforce. “In the case of PLI schemes, we have seen its impact on our labour force. We are looking for in situ solutions for MSMEs as they provide training and employment at the local level. Therefore, the importance of labour has been essentially underlined in the policies.
Recently news agency PTI reported that there is a demand to expand the Production Linked Incentives (PLI) scheme to more sectors like some electronic components, pharma and medical devices and these proposals are being discussed by the government.