Government has now become a promoter rather than a regulator of enterprises: Nirmala Sitharaman!

Union Finance Minister Nirmala Sitharaman said on Saturday that India has become one of the most preferred countries in the world for innovation and business. He called upon young entrepreneurs to take advantage of emerging opportunities and build globally competitive businesses from India.

Addressing the special plenary session of the YIFI Entrepreneurship Summit 2026 held in Madurai, Tamil Nadu, the Finance Minister said that today India has stable policies, regulatory clarity and world-class infrastructure, which makes it extremely attractive for startups and businesses.

He said, “India is the most suitable place for innovation and business today. It has a stable government, policy clarity, predictable tax regime and strong support from an accountable and easy government.”

The Finance Minister said that the reforms undertaken by the government under the leadership of Prime Minister Narendra Modi have completely changed the role of the government towards business. Now the government has not become the one controlling the business, but has become the one promoting and supporting it.

He said, “Under the leadership of Prime Minister Narendra Modi, the role of the government has changed from controlling business to promoting business.”

He further said, “Through boosting the formal economy, digitization, regulatory reforms, GST and large investments in infrastructure and connectivity, we have created an ecosystem where businesses can start easily, grow rapidly and compete with confidence.”

Nirmala Sitharaman appealed to the industry to take full advantage of the opportunities emerging in sunrise sectors and explore new development possibilities by adopting technology and innovation.

“Businesses should come forward and take advantage of the opportunities in sunrise sectors and make maximum use of technology and innovation,” he said.

Calling upon young entrepreneurs to dream big, the Finance Minister said they should “build with a bigger vision, build with responsibility, build for India, build for the world and above all, build for future generations.”

The Union Minister said that in today’s world the biggest boundaries are no longer geographical. Technology has made it easier to access the world’s markets from almost everywhere, while capital is also now flowing rapidly across borders in search of better ideas and possibilities.