Sitharaman urges businesses to look beyond India's formal urban elite

Sitharaman said reform and rising incomes are reshaping India's consumer demand, The Economic Times reports. Speaking at the All India Management Association's 53rd National Management Convention in New Delhi, she said upward mobility would accelerate discretionary spending, while demographic changes would shift household budgets. She urged corporate leaders not to design only for the formal urban elite.

The Economic Times also reports that Sitharaman said bank credit to industry grew 19% year over year in June 2026. She said banks had liquidity to lend, corporations had the solvency to invest, and India's free trade agreements were opening doors for labour-intensive goods and services. She called on businesses to seize the opportunity.