New Delhi, Feb 17 (UNI) Prime Minister Narendra Modi on Wednesday said his government is working to free the technology industry from unnecessary regulations and asked the sector to establish new parameters of competitiveness, to maintain the Indian leadership.

He said the government is aware that restrictions are not conducive for the development of the sector and young entrepreneurs should have the freedom to leverage the new opportunities.

Mr Modi was addressing the NASSCOM Technology and Leadership Forum via video-conferencing.

The Prime Minister further said that his government has full faith in the startups and innovators and called upon the start-up founders not to restrict themselves to just valuations and exit strategies.

"Think how you can create institutions that will outlast this century. Think how you can create world class products that will set the global benchmark on excellence,' he added.

The Prime Minister also asked the tech leaders to emphasise on imprint of Make for India in their solutions.

He asked them to think about giving world-class products and leaders in the run up to 100 years of Independence in 2047.

"Decide your goals, the Country is with you," said the Prime Minister.

He said it is the responsibility of the tech industry to give proactive technological solutions for 21st century challenges to India.

He asked them to work for solutions in water and fertilisation requirement of agriculture, health & wellness, tele medicine, and education & skill development.

Mr Modi lauded the IT industry for their resilience during the pandemic, saying, 'When the chips were down, your code kept things running.'

He noted two per cent growth in the sector and addition of four billion dollars in revenue, amid the apprehensions of de-growth.

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