The new software product policy will create 3.5 million jobs and boost the software product revenue to $ 80 billion by 2025.
Software Technology Parks of India (STPI), which runs under the Ministry of Electronics and Information Technology, Government of India, is set to create 28 Centres of Excellence across the country in emerging fields like Internet of Things (IoT), artificial intelligence (AI), cloud, augmented reality, virtual reality, blockchain and others.
STPI director, Sanjay Gupta made the announcement at a recent technology festival gathering. He informed that STPI is working on an initiative to create 28 Centres of Excellence in emerging fields which will work in collaboration with stakeholders, state governments, academia, industry and industry mentorship to provide a platform for start ups and budding entrepreneurs.
Job pool to be created by 2025
Further to this announcement, he stated that although India is a $167 billion IT industry, yet its contribution to product industry is a mere $ 7.1 billion. In this direction the Government of India has launched a national policy towards software products which aims to boost the industry. Gupta assured that this software product policy will create 3.5 million jobs and boost the software product revenue to $ 80 billion by 2025.