Why in News?
The Ministry of Electronics and Information Technology released the National Policy on Software Products, 2019 aimed at stimulating the software products ecosystem in India.
About the policy:
The policy claims that the global software products industry was valued at 413 billion USD, while the Indian software products industry’s contribution stood at just 7.1 billion USD.
This policy contains 5 missions with the following objectives:
To achieve a ten-fold increase in India’s contribution towards the global software product industry by 2025.
To nurture 10,000 tech start-ups which include 1000 such start-ups in lower tier cities and towns leading to employment of 3.5 million people by 2025.
To up skilla million IT professionals, motivating 100,000 students and producing 10,000 leaders for the Indian industry.
To develop 20 strategically located clusters to support software product companies with ICT infrastructure, R&D and mentor ship.
A National Software Product Mission (NSPM) would be established under the aegis of MeitY to achieve this mission.
The NSPM would be responsible for designing strategies for the development of the industry, monitoring of the special funds created under the Policy and facilitating Government agencies in the promotion of Software Products.