The record
Written from the 1 report below. Nothing here is unsourced.
- Finance Minister Nirmala Sitharaman encouraged Indian companies to prioritize research and development and intellectual property creation over simple manufacturing growth.
- She highlighted that India's current R&D spending is significantly lower than the OECD average and other leading economies.
- Businesses were urged to improve corporate governance and engage constructively with regulators to prevent litigation.
- The minister also advocated for better management training to ensure long-term competitiveness and resilience.
- Strengthening these capabilities is intended to support India's goal of becoming a developed economy by 2047.
What to watch next
- Government policy shifts regarding R&D incentives and intellectual property.
- Changes in private sector engagement with regulatory bodies.
- Integration of management training programs for family-run and early-stage businesses.
Who said what2
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Nirmala Sitharaman
Finance Minister
2 quotes · 1 outlet
“Our ambition must move from 'Made in India' to 'Imagined in India' products not only manufactured here, but conceived, designed and technologically developed here, and then taken to markets across the world”
In the article
…governance and institutional practices. Sitharaman said India’s next phase of growth should be driven by greater investment in research and development and the creation of intellectual property within the country. " Our ambition must move from 'Made in India' to 'Imagined in India' products not only manufactured here, but conceived, designed and technologically developed here, and then taken to markets across the world ," she said. She urged companies to increase spending on R&D either through their own facilities or by working with academic institutions. Such investment, she said, would help improve existing products, encourage…
“Businesses must engage constructively with government and regulators. Legal recourse will always remain available, but every disagreement need not begin as litigation. There is considerable value in engaging early, placing evidence on the table, participating seriously in consultations and working towards solutions before differences become disputes”
In the article
…of external rules, arguing that companies must also establish strong internal standards. She said trust between businesses needs to be built through consistent conduct rather than simply expected from the other side. " Businesses must engage constructively with government and regulators. Legal recourse will always remain available, but every disagreement need not begin as litigation. There is considerable value in engaging early, placing evidence on the table, participating seriously in consultations and working towards solutions before differences become disputes ," she said. Businesses, she added, should also offer greater transparency and predictability and remain open to listening. A mature economy, she said, should allow disagreements without every difference turning…
Coverage1
All filed from India
Named India · All India Management Association · Government of India · Nirmala Sitharaman
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