The Union Cabinet approved the National Policy on Software Development on 28 February 2019 so that India can be developed as a software product domestically.
The purpose of this policy is to make the country the main center of software product development. This will create 65 million jobs by 2025. After the Cabinet meeting, Information Technology Minister Ravi Shankar Prasad said, “The country’s information technology business is worth $ 168 billion. It has a majority of stake in the services, while it has less share of software production. It’s only $ 7.1 billion. Most software products are imported. That’s why the software product policy has been designed with the goal of making the country a major center in the software development area by 2025. “He also said that this policy is likely to provide employment to about 65 lakh people in the country. It will also earn lots of revenue.
Important Facts about the National Policy on Software Products
- The software production ecosystem is defined by its enormous value enhancement in its innovations, intellectual property (IP) creation and productivity.
- It is likely to take advantage of the opportunities available under the Digital India program.
- To enhance the revenue and exports of this area significantly.
- To create enterprise opportunities in basic employment and emerging technologies.
- To increase the inclusive and sustainable development. Will be expansive.
For the next seven years, expenditure of Rs. 1500 crores have been included initially for the implementation of schemes and programs considered under this policy. These 1500 crores will be divided into Software Product Development Fund (SPDF) and research and innovation funds.
The structure envisaged within this policy will lead to the formulation of various schemes, initiatives, projects and modalities for developing the software production area in the country.
In order to achieve the dream of National Policy on Software Products (NPSP-2019) the following five missions have been kept in this policy.
- Encourage the creation of a sustainable Indian Software Development industry that operates from intellectual property (IP), which can reach up to ten times the share of India’s share in the global software production market by 2025.
- To nurture 10,000 technology startups in the Software Development industry, which includes 1000 technology startups in Tier II and Tier III cities, and create employment for directly or indirectly 3.5 million people by 2025.
- Building a Talent Group for the Software Development Industry This will be done
- To provide 1,000,000 information technology professionals with additional skills.
- Encourage 100,000 school and college students.
- Build 10,000 specialized professionals who can provide leadership.
- National software product mission will be established to monitor and develop plans for this policy and to develop them, in which the government education community and industry will be involved.
Some other Facts about NPSP 2019
Promoting emerging technology such as the Internet of Things, Artificial Intelligence, Block Chain, Big Data, Robotics, are also the objectives of the same policy.
In the above context, the construction of a fund of 1500 crore (Software Product Development Fund/
Research and Innovation Funds.) has also been approved. In this, the government contribution will be Rs 1000 crore, in order to promote the ecosystem related to Software Development. These funds will be financially managed by a professional financial institution.
In this policy, attention has also been taken on innovation incentives and software products related to intellectual property to solve social challenges.
There is a plan to start the National Policy on Software Development Mission government will be supported by educational institutions and industrial institutions.
It is worth mentioning that the Software Development policy has been announced on the next day of the announcement of the National Policy on Electronics.