28 C
Mumbai
Wednesday, December 7, 2022

Bengaluru Tech Summit: PM Modi says India is known for red carpet for investors

- Advertisement -

India’s Prime Minister Narendra Modi said the country is now known for red carpet for investors.He also mentioned India’s success in start-ups. Since 2021, the number of unicorn start-ups in India has more than doubled. He also noted how India’s Global Innovation Index rose from 81 to 40th place in 2015.

On Wednesday, Prime Minister Narendra Modi delivered a pre-recorded speech at the silver anniversary edition of the Bengaluru Tech Summit (BTS 22). The Department of Electronics, IT, Bt, S&T, Government of Karnataka, in collaboration with Software Technology Parks of India, has hosted the 25th edition of Bengaluru Tech Summit, Asia’s largest tech event.

BTS 2022’s major topic is ‘Tech4NexGen,’ with a focus on Electronics, IT, Deep Tech, Biotech, and Startups. In his virtual speech, Prime Minister Modi stated, “India is no longer known for red tape.” It is well-known for its red carpet treatment for investors.

Whether it is FDI reforms, drone rule liberalization, semiconductor sector measures, production incentive programs in many industries, or the development of ease of doing business.”

Earlier in his speech, Modi mentioned the Government e-Marketplace, or GeM, a platform where small merchants and enterprises may meet the government’s procurement demands.

PM Modi noted, “Technology has assisted small enterprises in finding a large clientele. Simultaneously, this has decreased the opportunity for corruption. Similarly, technology has aided online bidding. This has sped up projects and increased transparency. It also reached a purchase value of one trillion dollars last year.”

Previously, he stated that the might of India’s young is renowned around the world because they have assured technological globalization.

He also mentioned India’s success in start-ups. Since 2021, the number of unicorn start-ups in India has more than doubled. He also noted how India’s Global Innovation Index rose from 81 to 40th place in 2015.

PM Modi stated, “India has demonstrated how to democratize technology. India has also demonstrated how to humanize technology. Technology is a force of equality and empowerment in India.”

According to a government statement, the strategy, which was unveiled during the opening session of the Bengaluru Tech Summit, also intends to give assistance for a healthy and well-connected ecosystem.

On Wednesday, Karnataka Chief Minister Basavaraj Bommai unveiled the ‘Karnataka Research Development and Innovation Policy,’ which aims to fund infrastructure and institutions.

According to a government statement, the strategy, which was unveiled during the opening session of the Bengaluru Tech Summit, also intends to give assistance for a healthy and well-connected ecosystem.

It aims to provide access to a skilled personnel pool, grassroot innovators, university-based cutting-edge research and research companies, industry-science collaboration, and creative entrepreneurs.

According to the statement, the policy focuses on strengthening governance and financing of the research and innovation system, research and innovation policy, research and innovation to drive the regional ecosystem, research and development, and innovation to support entrepreneurship and Micro, Small, and Medium Enterprises (MSMEs).

The establishment of a ‘Karnataka State Research Foundation’ to create and implement methods to accomplish the policy’s objectives has been proposed.

The policy also aims to enable higher education institutions to adopt ‘open science and research,’ create a special incentive scheme to encourage companies to set up R&D laboratories outside Bengaluru, and launch an innovation incubation program called ‘Karnataka Technology Innovation and Entrepreneurship (K-TIE) to strengthen the entrepreneurship ecosystem beyond Bengaluru.

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -spot_img

Latest Articles