Finance minister Sitharaman: Brand India as responsible capitalist

BENGALURU: Finance minister Nirmala Sitharaman said India should position itself as a nation practising responsible capitalism.

"We need to understand that capitalism also has its limitations. It is important to brand India as a responsible capitalist country, one that knows how to take care of its people, with many of its institutions doing their job," Sitharaman said at the India Ideas Conclave 2024 held in Bengaluru on Friday.

The minister discussed how the Indian society has traditionally practised resource utilisation based on necessity rather than excess, primarily due to economic constraints rather than environmental consciousness.

Sitharaman expressed her apprehensions about specific aspects within economic frameworks that require fresh thinking to reimagine building the Bharat identity. She highlighted issues of expansionism, exploitation, and aggression.