The Indian software and services industry has emerged as the success story for India accounting for revenues of approximately US$ 40 billion, the country’s largest exporter, and providing direct and indirect employment to over 8 million people.

As per NASSCOM estimates, the total software and services export industry was estimated to be US$31.3 billion and software products and engineering services accounted for export revenues of US$4.9 billion.

Leading players in the industry and start-ups are now waking up to the potential of software product business for India. This is manifest in the number of such businesses being set up and the successful examples of a few companies that have truly showcased how Indian companies can build and market products globally. The heightened activity being witnessed now, coupled with the unique advantages for Indian software product companies, will ensure the success of a large number in the coming years, feel industry watchers.

According to a 2005 study conducted jointly by IIM-Bangalore and NASSCOM, revenue potential of India's software products is as high as $7 billion by 2010, a multi-fold rise from current levels.

 

India can have several globally successful software product companies in the next few years. The ecosystem required to make India successful in the software product space is just beginning to happen. Investment needs to be promoted by encouraging start-ups and offering attractive incentives.

 

NASSCOM Product Forum under the leadership of Mr. Subash Menon and Mr. Sharad Sharma have outlined a series of initiatives to reach out to product companies in India and help build a platform where there is interchange of ideas, mentoring, showcase successful examples and  highlight the opportunity areas for Product Companies.

 

The NASSCOM Product Conclave 2007 is NASSCOM’s first national conference for the Indian software product industry and is being organized at Bangalore, the IP capital for India on 19-20 November 2007.

Industry CEOs, CIOs of user industry, technology experts, venture capitalists, angel investors, marketing gurus will congregate at Bangalore for a two-day action packed agenda that will stimulate debate and discussion, ideate new initiatives and above all help define a vision for India’s fledgling software product industry.