2 hrs ago
Sitharaman Urges India to Move Beyond Made in India
Finance Minister Nirmala Sitharaman said India should do more than manufacture products.
She wants products to be imagined, designed and developed in India too.
This could help Indian businesses earn more from ideas, technology and patents.
She said manufacturing is still important.
She also said family-owned companies need clearer rules for management and succession.
The All India Management Association was urged to provide practical training for these businesses.
Sitharaman said good execution will be important for turning India’s strengths into lasting capabilities.
She added that successful startups should grow into large companies that last for many years.
Finance Minister Nirmala Sitharaman urged businesses to pursue an “Imagined in India” approach focused on innovation, design and technology.
She said India should capture more value from engineering, patents, software, technology and specialised know-how.
Sitharaman said manufacturing expansion remains important but products should also be conceived and technologically developed in India.
She called for greater professionalisation of family-owned businesses through clearer management structures and succession planning.
She said the goal should be to help startups grow into enduring large corporations, rather than focusing only on creating unicorns.
- Who
- Finance Minister Nirmala Sitharaman and Indian businesses, including family-owned enterprises.
- What
- Sitharaman called for innovation-led growth through an “Imagined in India” approach and urged stronger professional management of family businesses.
- Where
- The 53rd National Management Convention of the All India Management Association in New Delhi.
- When
- Tuesday.
- Why
- To help India capture more economic value from design, engineering, patents, software, technology and specialised know-how, while building businesses that can sustain growth.
Key facts
- Speaker
- Finance Minister Nirmala Sitharaman
- Main proposal
- Move beyond “Made in India” toward “Imagined in India”
- Event
- 53rd National Management Convention
- Organizer
- All India Management Association
- Location
- New Delhi
- Business focus
- Design, engineering, patents, software, technology and specialised know-how
- Family-business priorities
- Governance, succession planning, delegation of authority and conflict management
Quotes
Nirmala Sitharaman
India’s Finance Minister
“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 the markets across the world”
thehansindia.com
“Manufacturing scale is important, but the next stage is to capture more of the value that comes from design, engineering, patent, software, technology, and know-how.”
thehansindia.com
Sources
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