PM Modi’s message to startups: Think how you can create institutions, don’t focus on valuations alone

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Prime Minister Narendra Modi on February 17 exhorted startups to think beyond valuations and create world-class institutions.

“Start thinking beyond valuations and exits, think of creating institutions which will last more than a century,” he said.

Addressing the Nasscom Technology and Leadership Forum, he also heaped praise on the tech sector for the role it played during the pandemic-induced lockdown days.

“When chips were down, Indian IT industry kept things running and did wonders during pandemic. In the past, Indian IT could not take advantage of domestic opportunity and digital divide kept widening. The National Digital Communication Policy an attempt to make India a global digital product hub. Liberalising geospatial sector will help tech startups and bolster the Aatmanirbhar Bharat initiative,” he said.

Modi highlighted improvement in technology has reduced black money problems and technological interventions have helped in implementing the core idea of ‘minimum government, maximum governance’.