In order to scale up business, Union finance minister Nirmala Sitharaman has urged industries to identify a partner for making a joint venture in Australia and United Arab Emirates, following the signing of agreements signed by India with the two countries.
She further noted that the company or an enterprise should be transparent in its operations and ensure that all the details like the investors in the company be made available in public domain and these are the things that should be told to industry.
Underlining that the companies were earlier hesitant to speak to their counterparts in other countries, she said that industries should take risks with the government signing the pact and government is ready to extend its assistance.
On the pharma front, Sitharaman said that the country was once producing maximum 'active pharmaceuticals ingredient (API)' but that business got dwindled and now the country was depending on API from another country.
