The Union Cabinet has approved the National Policy on Software Products – 2019 (NPSP-2019) to develop India as a software product nation.
Initially, an outlay of Rs. 1,500 Crore is involved to implement the programmes/schemes envisaged under this policy over the period of 7 years. This is divided into Software Product Development Fund (SPDF) and Research & Innovation fund (RIF).
The policy will lead to the formulation of several schemes, initiatives, projects and measures for the development of software products sector in the country as per the roadmap envisaged therein.
The policy has five Missions: Promote the creation of a sustainable Indian software product industry, driven by intellectual property (IP), leading to a ten-fold increase in India share of the Global Software product market by 2025; Nurture 10,000 technology startups in software product industry, including 1,000 such technology startups in Tier-II and Tier-III towns & cities and generating direct and indirect employment for 3.5 million people by 2025; Create a talent pool for software product industry through up-skilling of 1,000,000 IT professionals; motivating 100,000 school and college students; generating 10,000 specialized professionals that can provide leadership; and building a cluster-based innovation driven ecosystem.
National Software Products Mission will be set up with participation from government, academia and industry.