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Govt unveils National Software Policy, eyes 3.5 million jobs by 2025

The software product industry is estimated to be $411 billion globally today, is expected to reach around $1 trillion by 2025

Press Trust of India  |  New Delhi 

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has issued the draft of first ever Policy with an aim to increase share of Indian products in global market by 10 fold to estimated $148 billion and create opportunity for 3.5 million people by 2025.

The policy will "strive for a tenfold increase in share of the global product market by 2025 by promoting easy access to local domestic/international market for product" and "create 3.5 million direct and indirect by 2025", the draft said.

The product industry is estimated to be $411 billion globally today and is expected to reach around $1 trillion by 2025.

"However, in India the product industry is still in its infancy stage. The total revenue of product industry in India is $6.1 billion, out of which $2 billion is from exports," the draft said.

As per the estimates, the Indian product industry accounts for 1.48% of global market and government's mission to increase it by 10 fold will take it to $148 billion by 2025.

The IT Industry in India is around $143 billion and is expected to grow to $350 billion by 2025, as per industry body

The aims to create conducive environment for creation of 10,000 technology startups to develop products that are globally competitive and thereby generating a direct and in-direct for 3.5 million persons.

"The policy targets to achieve a goal of creation of 10,00,000 by 2017, and additional 25,00,000 by 2025," the draft said.

According to the draft policy, the has promised that it will create an "enabling framework for inclusion of Indian product in procurement" and promote their usage "in strategic sectors like Defence, Atomic Energy, Space, Railways, Telecommunication, power and healthcare etc".

Among various measures, the aims to leverage the start-up India initiative under the proposed policy to ensure ease of business and to address concerns that may be specific to the product industry through an Inter-Ministerial Coordination Group.

The has provision to create a specialised talent pool of 10,00,000 professionals by 2025 conversant with nuances of product development that can support the growth of product industry.

First Published: Mon, November 28 2016. 22:45 IST