Finance Minister Nirmala Sitharaman to industry: Invest, bridge HR gaps, partner on skilling

Finance Minister Nirmala Sitharaman has urged Indian industry to shed its hesitation and step up investments, stressing that the government had delivered on ease of doing business and was working to plug skill gaps in line with India’s vision of Viksit Bharat.

Speaking at the IFQM symposium in New Delhi on Thursday (September 18), Sitharaman listed out three key demands from industry: increase investments and manufacturing capacity, address human resource gaps, and partner with the government on skilling initiatives.

"We have an advantage of demographic dividend, but we have to provide them the right skills," she said, noting that the government was upgrading ITIs across 750 districts and setting up hubs for AI training.

The Union Budget, she added, had proposed that AI-driven skills be offered to youngsters to prepare them for high-tech roles.

The minister pointed out that one of the biggest grievances of industry was the gap between qualifications and job readiness. "You recruit someone whom you think is qualified but then you spend 6-8 months to actually prepare them for the job. We need not do that," she said, pressing for deeper collaboration between government, private sector, and MSMEs to ensure youth are trained for direct employment.

On the broader investment climate, Sitharaman underlined that Prime Minister Narendra Modi had "never ignored the wish list of the industry over 11 years," and expressed hope there would be no reluctance on part of companies to expand capacity. "Industry should very quickly look at increasing investments," she urged.

Sitharaman also emphasised that engagement between government and industry should be "ongoing through the year and not just before the budget."

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