India software market to earn $5.3 bn in 2016

The robust Indian software market is on track and would reach $5.3 billion (Rs.35.429 crore) earning in 2016, growing 12.8 percent over 2015, global market research and advisory firm Gartner said on Tuesday.

"The enterprise software marketplace is dynamic and ever-changing. Its growth and structure are being shaped by factors and forces of decentralised purchasing, consumerization and mobility," Gartner research director Bhavish Sood said in a statement.

Among the leading trends in the Indian software market are software as a service (SaaS) adoption and development, open source software (OSS) adoption, changing buying behaviour and purchasing styles associated with digital business and the Digital India initiative of the government.

"In 2015, the Indian economy has shown signs of resurgence, with increased efforts by the government toward ease of doing business, which has triggered an increase in foreign direct investment (FDI) inflows," Sood said.

FDI inflows grew 27 percent to $30.9 billion from 2014, demonstrating the seriousness of the government in leveraging IT for effective governance.

"It is evident that the government is serious about leveraging IT for effective governance. The Digital India initiative, MyGov citizen portal, the Self-Employment and Talent Utilization (SETU) programme for startups and smart cities initiatives are a few some examples," Sood added.

The Digital India initiative is centered around digital infrastructure as a utility to every citizen, governance and services on demand, and digital empowerment of citizens.