The Ministry of Electronics and Information Technology (“MeitY”) has recently launched a National Policy on Software Products, 2019 (“NPSP”) with a view to develop India as the global software product hub, driven by innovation, improved commercialisation, sustainable Intellectual property (IP), promoting technology start-ups and specialised skill sets, for development of the sector, based on Information and Communication Technology (ICT).
Objective of the Policy
- To develop India as a Software Product Nation and a global leader in conception, design, development and production of intellectual capital driven Software Products, thus, accelerating growth of entire spectrum of IT Industry of the country.
- To design appropriate strategy for development of the software product industry to ensure optimum utilization of its potential and to establish India as a global Software Product Hub.
- To implement specific policy measures to ensure an enabling ecosystem for design, development, innovation, value addition, based on use of ICT.
- To take specific initiatives to be undertaken to tap the full potential of the domestic and the international markets for the Software product industry.
- Monitor and collate various initiatives taken under this policy with an aim to create 3.5 million employment opportunities and boost software products revenue tenfold by 2025.
- Facilitate various Government agencies and other bodies in promotion of Software Products, specific to the various programmes envisaged under this policy.
- Encourage States to participate in programmes and promote Indian Software Products in line with this policy.
The Policy aims at adopting the following strategies to achieve its goals
- Promoting Software Products Business Ecosystem
- Promoting Entrepreneurship & Innovation for Employment
- Skilling and Human Resource Development
- Improving Access to Domestic Market and Cross Border Trade Promotion
Source: Ministry of Electronics and Information Technology
