Not red tape, India now known for red carpet for investors: PM at Tech Summit

NEW DELHI: Prime Minister Narendra Modi on Wednesday shared a pre-recorded message for the silver jubilee edition of the Bengaluru Tech Summit (BTS 22).

The Department of Electronics, IT/BT, S&T, Government of Karnataka, along with Software Technology Parks of India, has organised the 25th edition of Asia’s largest Tech Event – Bengaluru Tech Summit. The central theme of BTS 2022 is ‘Tech4NexGen’ and will focus on electronics, IT, deep tech, biotech, and start-ups.

Chief Minister Basavaraj Bommai and other guests lighting the lamp to mark the inauguration of the Bengaluru Tech Summit at Palace Grounds in Bengaluru on Wednesday.

“India is no more a place known for red tape. It is known for red carpet for investors — whether it is FDI reforms, or liberalisation of drone rules, or steps in the semiconductor sector, or the production-linked incentive (PLI) schemes in various sectors or the rise of ease of doing business,” Prime Minister Modi said in his virtual address.

Chief Minister Basavaraj Bommai was presented with a plaque.

Modi, earlier in his address talked about Government e-Marketplace, also called GeM, a platform where small traders and businesses fulfill the government’s procurement needs.

“Technology has helped small businesses find a big customer. At the same time, this has reduced the scope for corruption. Similarly, technology has helped with online tendering. This has accelerated projects and boosted transparency. It has also hit a procurement value of Rs 1 trillion last year”, the PM added.

Chief Minister Basavaraj Bommai addressing the gathering.

Earlier, he said the power of India’s youth is known across the world as they have ensured tech globalisation.

He also touched upon India’s success in start-ups. The number of unicorn start-ups in India doubled since 2021. Also, he mentioned how the Global Innovation Index for India jumped to 40th rank from 81 in 2015.

Senapathy ‘Kris’ Gopalakrishnan, chairman of Axilor Ventures, a start-up accelerator, and Biocon chairperson Kiran Mazumdar-Shaw addressing the gathering.

“India has shown how to democratise technology. India has also shown how to give tech a human touch. In India, technology is a force of equality and empowerment”, PM Modi added. (ANI)