Daijiworld Media Network - New Delhi
New Delhi, Jul 18: Finance Minister Nirmala Sitharaman on Saturday said India has emerged as a preferred destination for innovation, entrepreneurship and investment, encouraging young entrepreneurs to leverage the country's evolving business ecosystem to build globally competitive enterprises.
Speaking at the Special Plenary Session of the YiFi Entrepreneurship Summit 2026 in Madurai, Tamil Nadu, Sitharaman said India's stable governance, policy consistency and improving infrastructure have created an environment that supports innovation and business growth.
She said the country today offers a predictable policy framework, regulatory certainty, a transparent tax regime and a responsive government, making it an attractive destination for startups and businesses.
Highlighting the government's economic reforms, the Finance Minister said the Narendra Modi administration has transformed the role of the government from that of a regulator controlling businesses to one that actively enables enterprise and economic growth.
According to Sitharaman, initiatives such as the formalisation of the economy, rapid digitisation, implementation of the Goods and Services Tax (GST), regulatory reforms and major investments in infrastructure and connectivity have strengthened the business ecosystem and enhanced investor confidence.
She urged entrepreneurs to capitalise on opportunities emerging in sunrise sectors by embracing technology, innovation and new-age business models.
The Finance Minister also said India has overcome a mindset of self-doubt and is now playing an increasingly important role in some of the world's most advanced scientific and technological initiatives.
Encouraging the next generation of business leaders to think beyond conventional boundaries, Sitharaman called on them to build enterprises that are innovative, responsible and globally competitive while contributing to India's long-term development.
She urged entrepreneurs to "build boldly, build responsibly, build for India, build for the world and build for generations to come."
Sitharaman further observed that technological advancement has significantly reduced the importance of geographical boundaries, enabling businesses to access global markets more easily while attracting international capital in search of innovative ideas and high-growth opportunities.