National Policy on Software Product 2019

National Policy on Software Product 2019

• National Policy on Software Product 2019 is a basic roadmap for formulation of initiatives, schemes and other measures for the development of software products sector in India

Funding

• It involves an initial outlay of Rs.1500 crore for various schemes till 2025.
• Software Product Development Fund: of Rs 5000 crore with contribution from private sector to promote emerging technologies such as Internet of Things, Artificial Intelligence, Blockchain, Big Data and robotics.
• Research & Innovation fund

Five Main Missions

• Increase share in global software products market
  • Create Indian Software products Industry of $ 70-80 billion at a Compounded Annual Growth Rate of 40% by 2025.
  • Increase India’s share in global software product market by ten times.
• Develop Software Product Eco-system
  • Nurturing of 10,000 technology start-ups in software product industry, including 1,000 in tier-II and tier-III towns.
  • Cluster-based innovation driven ecosystem by developing 20 sectoral and strategically located software product development clusters
• Employment Generation
  • It aims create direct & indirect employment for 3.5 million people by 2025.
• Talent Pool Creation
  • Skilling of 10 lakh IT professionals.
  • Developing 10,000 leadership professionals.
• National Software Products Mission
  • Aimed at monitoring and evaluating scheme & programmes with participation from Government, Academia and Industry.

Impact

• Boost export income
• Create employment and entrepreneurial opportunities
• Leverage opportunities available under the Digital India Programme leading inclusive and sustainable growth.