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Union Finance Minister Nirmala Sitharaman emphasized that India remains open for investment, stating that no area is off-limits for private sector participation, including sensitive sectors like defense production and space. Highlighting the government’s efforts to streamline business processes, she quoted Prime Minister Narendra Modi, asserting that India offers a ‘red carpet’ for businesses instead of red tape.
Nirmala Sitharaman said, “... Nothing stops investment firms and banks from coming to India... There is no area where the private sector cannot come in. India has actually opened the private sector, even in sensitive sectors like defence production and space... We have controlled and regulated our businesses really well... It was PM Narendra Modi who said, no red-tape but only red carpet for businesses in the country...”