The Indian software product industry is aiming to achieve USD 10 billion in revenue by 2020. Driven by demand from customers – enterprises, SMBs, government and retail consumers – and the emergence of disruptive technologies – this industry has received just the thrust needed to achieve this target.
India, as the emerging hub for innovative product development, has in place all the necessary strengths and ecosystem pillars:
However, along with these strengths, the industry is also tackling various challenges:
Software product firms are also strengthening their capabilities to support their global aspirations:
Aiming to establish India as the hub for high value, innovative, next-gen products, NASSCOM is actively promoting the Indian software product industry through:
- NASSCOM Product Council: Engagement pillars: market access (domestic, international), branding (awards, showcase, talent), corporate connect (industry partnership, M&A), benchmarking (Product Excellence), product design (CoE), enablement (policy, skills, funding)
- 10,000 Start-ups: NASSCOM’s accelerator program for the next decade – aimed at funding, accelerating and mentoring 10k start-up firms in the next 10 years