India Has Become a Global Hub for Innovation and Enterprise, Says FM Sitharaman

New Delhi- Finance Minister Nirmala Sitharaman on Saturday said India has emerged as a leading destination for innovation and entrepreneurship, encouraging young business leaders to tap into the country's growing opportunities and build globally competitive enterprises.

Speaking at the special plenary session of the YiFi Entrepreneurship Summit 2026 in Madurai, Tamil Nadu, Sitharaman said India now provides a stable policy framework, regulatory certainty and world-class infrastructure, making it one of the most attractive places for startups and businesses.

"India is the place to innovate and do business, backed by a stable government, policy certainty, a predictable tax regime and a responsive, approachable government," she said.

The Finance Minister highlighted that the Narendra Modi-led government has fundamentally changed the role of the state, shifting from controlling businesses to supporting and enabling their growth.

"Under the leadership of Prime Minister Narendra Modi, the role of the government has been redefined from being a controller of enterprise to becoming an enabler of enterprise," she said.

She noted that reforms such as formalisation of the economy, digitalisation, the implementation of GST, regulatory simplification and large-scale investments in infrastructure and connectivity have created a business ecosystem where companies can launch, expand and compete with confidence.

Sitharaman also urged entrepreneurs to capitalise on opportunities in emerging sunrise sectors by embracing technology and innovation.

She said India has moved beyond a mindset of self-doubt and is now making meaningful contributions to some of the world's most advanced scientific and technological initiatives.

Encouraging the next generation of entrepreneurs to think big, the Finance Minister said they should "build boldly, build responsibly, build for India, build for the world and above all, build for generations yet to come."

She added that in today's interconnected world, technology has removed many geographical barriers, giving businesses access to global markets while investment capital increasingly flows across borders in search of innovative and promising ideas.

With inputs from IANS