BENGALURU: Prime Minister Narendra Modi on Thursday said India’s regulatory framework is being simplified to promote innovation in the technology sector and the government is actively engaging with key stakeholders for this. “You must be aware of the recent decisions taken by the government to ease compliance burden for the tech industry.
We are actively engaging with the stakeholders in the IT industry to chalk out a future policy framework for liberalising the sector and removing the compliance burden,” Modi said while inaugurating the 23rd edition of Bengaluru Tech Summit 2020 virtually. He was referring to the recent announcement by the Ministry of Electronics and Information Technology (MEITY) on removing ITeS/BPO firms from the OSP (Other Service Providers) compliance burden.
Hailing MEITY’s recent approval to IT firms allowing their employees to work from their homes or anywhere in India, Modi said the policy decisions are aimed at liberalising the burgeoning tech industry. “India is currently at a sweet spot. Our tech solutions have the potential to go global and, thanks to technology, our schemes have gone beyond files and changed the lives of people on a large scale,” the Prime Minister added.
While admitting that the Covid-19 pandemic had caused disruptions in the economy, 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 large-scale adoption of digital technology.
“We have been able to help millions of poor people in this country, including farmers and other marginalised sections, with the click of a mouse and cater to their needs within a short period of time. The IT industry showed resilience during the pandemic. Our fintech industry performed well and millions of transactions were carried out digitally due to people’s trust in technology,” Modi said.