The Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, called upon young Indian entrepreneurs to shed their hesitation, embrace risk, and leverage technology to expand businesses beyond global boundaries.
Speaking at the ‘YiFi’ Entrepreneurship Summit organized by the Confederation of Indian Industry (CII) in Madurai today, the Finance Minister emphasized that the only remaining barriers to success are self-imposed doubts.
Highlighting India’s resilient macroeconomic fundamentals, the Finance Minister noted that the nation continues to hold its position as the world’s fastest-growing major economy, currently projected to contribute one-sixth of all global growth. Backed by the third-largest start-up ecosystem globally featuring over 2.4 lakh DPIIT-recognized start-ups that have generated 23 lakh jobs and a digital public infrastructure processing over 2,000 crore UPI transactions monthly, she asserted that “the economic bus is here” for ambitious Indians.
“Geography still matters, but imagination matters far more. Investors provide capital and universities nurture talent, but it is the entrepreneurs who ultimately convert possibilities into prosperity,” the Finance Minister stated.
She highlighted Madurai’s 2,500 years recorded history as a relentless commercial hub Thunga Nagaram and an ancient confluence of trade financing Koodal Nagaram. She reminded the audience of the region’s historic merchant guilds, like the Shrainis, who managed international funding and set commercial standards across Southeast Asia millennia ago.
Reiterating the Central Government’s structural shift from a “controller” to a dedicated “enabler” under Prime Minister Shri Narendra Modi’s leadership since 2014, she spotlighted aggressive public investments in multi-modal logistics, the unifying impact of the GST law, and responsive policy frameworks. She specifically pointed to the fifth edition of the Emergency Credit Line Guarantee Scheme (ECLGS), tailored to protect MSMEs against volatile global tariffs.
Furthermore, she commended grassroots successes, pointing to a Small Industries Development Bank of India (SIDBI) initiative in the aspirational district of Virudhunagar. The unit has successfully institutionalized the branding, processing, and export of GI-tagged red chillies, and revived highly nutritious, traditional indigenous rice varieties like ‘Mappillai Samba’ and ‘Kavuni’.
Invoking the classical wisdom of saint-poet Thiruvalluvar, the Finance Minister urged the next generation to prioritize long-term value creation over short-term valuations. She concluded with a definitive call to action, urging youth organizations like YiFi to actively build global bridges—such as connecting directly with Indian embassies to invite international business delegations—to collectively propel India toward the vision of a Viksit Bharat by 2047.
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Also read: Viksit Workforce for a Viksit Bharat
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