National Policy on Software Products coming soon

S Ronendra Singh New Delhi | Updated on January 20, 2018 Published on June 19, 2016

Ravi Shankar Prasad, IT Minister

IT minister takes stock of proposals in review meeting

To promote talent and contribute a bigger share of software products from India to the global market, the government is close to finalising a ‘National Policy on Software Products -- 2016’. The Policy will help drive the vision of the government to have software products account for $100 billion of GDP by 2025 from around $6.1 billion today (of which around $2 billion is from exports). The country’s IT industry, which is worth around $143 billion, is expected to grow to $350 billion by 2025.

The global software products industry is estimated to be worth around $411 billion and expected to reach around $1 trillion by 2025. Therefore, to tap a major pie of this market, the government is striving to promote creation of a sustainable software product industry, leveraging India’s strength in IT so as to create disruptive innovations and cutting edge technologies.

To take stock of the notes and updates, Communications and IT minister Ravi Shankar Prasad had a review meeting with senior Department of Electronics and Information Technology (DeitY) officials last week, said government sources.

“The aim is to create a conducive environment for creation of 10,000 technology start-ups to develop software products that are globally competitive and thereby generating direct and indirect employment for 3.5 million (35 lakh) by 2025,” a presentation accessed by BusinessLine said.

It said the aim also is to strive for a ten-fold increase in the share of the global software product market by 2025 by promoting easy access to the local domestic/ international market for software product.

“The government’s aim is to create a talent pool of one lakh professionals by 2025, conversant with nuances of software product development that can support the growth of the industry,” an official said.

Industry bodies Nasscom and iSPIRT and other Think tanks have been pushing for such a policy.

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Published on June 19, 2016
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