'India should create its image as a responsible capitalist country', Nirmala Sitharaman said this

Finance Minister Nirmala Sitharaman has called for branding India as a "responsible capitalist" nation, emphasizing the country's deep understanding of the limitations of capitalism. Sitharaman spoke on India's traditional values ​​of sustainable living and responsible consumption at the 8th India Ideas Conclave organized by the India Foundation.

She said, "It is our responsibility to use according to our need and not according to our greed. We must understand that capitalism has its limitations and we need to brand India as a 'responsible capitalist' country". She said India's adoption of principles such as circular economy and reuse was not driven by global trends but by necessity and responsibility. "We did not follow the principle of circular economy and reuse because we were a poor nation. We thought it as our responsibility to use it according to our need and not our greed," Sitharaman said in a social media post.

With economic growth, comes responsibility, and that mindset needs to be instilled in India," the Finance Minister added. Nirmala Sitharaman further stressed developing tourism with the help of modern technology and traditional knowledge. "Self-learning digital programs can be formulated at the top 100 tourist centers for the interpretation of the importance of architecture, tourist significance, and the languages ​​related to Sanskrit and Pali," she recommended.

"We need to escalate learning material for those who want to understand the distinctive marvels of Indian architecture, adopting a multidisciplinary approach for tourism," she said. Sitharaman also laid stress on setting global benchmarks in various sectors. She proposed to develop an "India FDA" on the lines of the US Food and Drug Administration (FDA) to ensure top standards in food and drug safety.

She highlighted the scientific heritage of India and said the strength in science that India had acquired since ancient times has remained unbroken. She mentioned Nobel laureate Erwin Schrödinger saying that most of his thoughts and theories were heavily influenced by Vedanta. "India's strength in science has remained unbroken since ancient times. Erwin Schrödinger, a top scientist, had said that most of my thoughts and theories were heavily influenced by Vedanta," she said. Sitharaman said this scientific heritage was required to be integrated within the 'Brand India' vision, something on the lines of excellence in science and technology to find a place for India across the globe.