Why is it in the news?
- The Union Cabinet has approved the National Policy on Software Products(NPSP) 2019 to develop India as a Software Product Nation.
More in the news
-
The policy aims to adopt a shift in strategy so that IT products also contribute equitably and significantly to the industry along with IT services.
-
Initially an outlay of ₹1,500 crore is being planned for various schemes under in policy in the next seven years.
-
Further, the policy proposes to create a ₹5,000-crore fund with industry participation to promote emerging technology such as:(1) Internet of Things,(2) Artificial Intelligence,(3) Blockchain,(4) Big Data and robotics.
-
Of the ₹5,000-crore fund , government contribution will be ₹1,000 crore.
-
To achive the vision of NPSP-2019, the Policy has the following five Missions:(1) To 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.(2) To nurture 10,000 technology startups in software product industry, including 1000 such technology startups in Tier-II and Tier-III towns & cities and generating direct and in-direct employment for 3.5 million people by 2025.(3) To create a talent pool for software product industry.(4) To build a cluster-based innovation driven ecosystem by developing 20 sectoral and strategically located software product.(5) Mission will be set up with participation from Government, Academia and Industry.
Source
The Hindu, Ibef.