Create institutions that outlive this century: PM Narendra Modi to start-ups

Emphasising on the need for the Indian IT-ITeS sector to focus on institution building and promoting a culture of excellence, Prime Minister Narendra Modi on Wednesday called on the country’s start-ups to create institutions that outlive this century.

Speaking at Nasscom’s Technology and Leadership Forum through video conference, Modi called on the IT sector to not just focus on ‘Make in India’ but also ‘Make for India’. He also exhorted the tech industry to create products which set global benchmarks in excellence.

“Indian IT sector will have to focus on institution building and culture of excellence. I have a message for our start-up founders. Do not limit yourself to valuations and exit strategies. Think how you can create institutions that will outlive this century. Think how you can create world class products that will set global benchmark in excellence. There can be no compromise on these goals for without them we will always be a follower and not a global leader,” the Prime Minister said.

Modi commended the role played by the IT sector during the Covid pandemic. “When the chips were down, your code kept things running. In a situation where every sector was impacted by Covid, you managed a revenue growth of about 2%. When there were widespread concerns over de-growth, even then the Indian IT industry added $4 billion to its revenue,” he noted.

Emphasising that the country has lot of hopes and aspirations from its IT-ITeS sector, Modi urged the industry to create new benchmarks of excellence and competitiveness, if India aims to achieve a leadership status in multiple domains.

“This year we will enter the 75th year of India’s independence. It is an opportune time to set new benchmarks and work towards them. Around 25-26 years from now when India will celebrate 100 years of independence, then how many new world class products we would have given, how many global leaders we would have created. We need to work on this,” the Prime Minister said.

Speaking about various initiatives taken by the government to open up sectors, Modi said, “The policies regarding mapping and geospatial data have been liberalised for the industry. This step will empower our tech start-up eco-system and the mission of Aatmanirbhar Bharat,” he added.

He pointed out that security concerns in the past were the biggest hindrance that prevented the government from liberalisation of the norms governing acquisition and production of geospatial data.

“Technology has empowered the citizen in the country and has connected him with the government,” he said.

Before the Prime Minister’s address, Wipro chairman, Rishad Premji said the government should look at setting up institutions like the Software Technology Park of India (STPI) in India’s small towns to foster a culture of innovation and growth.