Jaitley was speaking at a breakfast session.
In several areas, the Indian government has put out a model law.
Sikka dismissed that the new technology and connectivity would create imbalances.
As per the findings, CEOs are less optimistic about prospects this year.
India's ranking is worst among the five BRICS countries
US interest rate normalisation policy is likely to keep global FX markets volatile.
He said India needs huge amounts of energy for development but will do whatever it can to deal with the problem of climate change as it sees the world as one family.
Prime Minister Narendra Modi on Tuesday invited investors here to participate in the proposed divestment of Navratna PSUs
India and Singapore on Tuesday elevated their ties to the 'strategic partnership' level and signed bilateral agreements for enhanced defence cooperation and in areas like cyber security, shipping and civil aviation.
"In the flux and transition of our times, the most critical need in this region is to uphold and strengthen the rules and norms that must define our collective behaviour," he said.
Modi is expected to address more than 18,000 people at the event, during which students from local schools will stage a series of cultural performances.
The Singapore Minister applauded Prime Minister Modi's effort to make India the manufacturing hub of the world.
India and China are associate partner countries of IEA.
The six satellites will be launched on PSLV-C29 from the Satish Dhawan Space Centre in Andhra Pradesh on December 16, 2015.
About 15 per cent of the country's total GDP comes from agriculture.
Arun Jaitley on Sunday said monetary policy plays an important role in stimulating growth.
Digital India and Make in India (initiatives) are designed to give special boost to manufacturing and India has huge potential in these areas.
India has been ranked very low, mostly in the bottom half, globally on most of the parameters for inclusive growth and development even as it fares much better internationally when it come to business and political ethics.
Finance Minister Arun Jaitley on Sunday asserted that India's "real economy" will dictate both the currency valuation and the market.
The IMF chief listed three key policy areas for women's empowerment as the education, getting a job and having a family.
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