India’s policy decisions eased to liberalise tech industry, says Prime Minister Narendra Modi 

BENGALURU: Prime Minister Narendra Modi while inaugurating the 23rd edition of Bengaluru Tech Summit, 2020 virtually said that India’s regulatory framework is being simplified to promote the innovation in technology sector while engaging with the key stakeholders.

"You must be aware of the recent decisions taken by the government to ease compliance burden for tech industry. We are actively engaging with the stakeholders in the IT industry to chalk out future policy framework for liberalising the sector and remove compliance burden,” Modi said during the summit while referring to the recent Ministry of Electronics and Information Technology ‘s announcement of removing the ITes/ BPO firms from the OSP compliance burden .

Modi while praising the Meity’s recent approval to the IT firms in India to allow its employees to  work from anywhere in India said that the country’s policy decisions are aimed at liberalising the burgeoning tech industry. “India is currently at a sweet spot. Our tech solutions have a potential to go global and due to technology our schemes have gone beyond files and changed the lives of the people at a large scale,” the Prime Minister added.

While admitting that the COVID pandemic caused disruption to the country, Modi said that it is not the end of the road and has proven to be a silver lining for the tech industry due to the amount of digital adoption that took place over the last few months.

“We have been able to help millions of poor people in this country including farmers and other marginalized sections with the click of a mouse and cater to their needs within a short period of time. IT industry showed resilience during the pandemic . Our fintech industry performed well and millions of transactions were performed digitally due to the trust of people in technology,” Modi said.

Union Minister for Electronics and Information Technology, Ravi Shankar Prasad  while referring to the Production linked incentive scheme said that the companies have committed to invest Rs 11 lakh crore to boost manufacturing of mobile phones and electronic components in India out of which Rs 7 lakh crore will be for exports.

He also informed that during the COVID pandemic, nine operating units of tech giant, Apple have shifted bases from China to India and Bengaluru is one of the key locations from where the Apple’s contract manufacturers are making the premium phones. With regards to massive tech adoption owing to pandemic, Prasad said that data privacy is of huge concern and a law on the same is going to be finalized by his ministry soon.