Next phase needs private investment, higher R&D spend: Sitharaman

•Finance Minister Nirmala Sitharaman calls for private investment to drive India's economic growth and build resilience against global uncertainty.

•She urges higher spending on research and development (R&D) to strengthen India's innovation capacity, citing a current R&D expenditure of 0.83% of GDP.

•Sitharaman announces a ₹1 trillion Research, Development and Innovation fund to encourage private sector R&D investment.

•India aims to shift from "Made in India" to "Imagined and Made in India" through strategic resource security, global economic openness, and skill development.