Software Products Development In India - $10 Billion Market By 2020?

India's IT industry is mostly services oriented and NASSCOM wants India to shine in product development as well. The organisation has setup a separate unit to foster software products development initiatives in India and wants to create a $10 billion market by 2020. It's interesting to note that the formation of product council is one of the measures proposed by a committee that was chaired by Narayana Murthy; co-founder & Chief Mentor of Infosys - one of the leading IT services companies in India.

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In the current fiscal year, Indian IT products market has already reached $2.2 billion (approximately Rs. 12,000 crore) in revenues and the domestic markets form a good 30% of it. In February 2013, about 30 software product development companies in India formed a group called "iSpirit" which stands for Indian Software Product Round Table. iSpirit would focus on hot technologies like cloud, SAAS, big data & analytics etc.

I'm curious to know what do CEans think about software products development in India. The bigger question is - is there market for consumer oriented software products in India? India's been adopting global products as 'local', unlike China. China has their own flavors of global competition and they're quite popular in their countries. In India, we've adopted global products as our own - and America's Facebook, Instagram & WhatsApp is basically India's Facebook, Instagram & WhatsApp.

Do you think time has come that Indians develop their own Google, Facebook or simply adopt what's already popular?

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  • Gandalf
    Gandalf

    @gandalf-RPhbu3 • May 13, 2013

    Indians have always been at the core of innovations , they have not been recognized enough. The ideas expressed by young minds do not get the requisite funds to implement and have R&D on them . Acceptance levels are low in india by large MNCs in using products delivered by smaller less known companies compared to other countries

    Mindset is changing for the good , and we as right direction and set to achieve it by 2020

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  • Anand Tamariya
    Anand Tamariya

    @anand-tamariya-DnfjEX • May 13, 2013

    Indian products don't find a wider market because of lack of attention to detail. We hardly focus on the quality of product. Till we get rid of quick fix solution (jugaad) approach, we are not going to have a product with world wide acceptability.

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  • Kaustubh Katdare
    Kaustubh Katdare

    @thebigk • May 13, 2013

    Anand TamariyaIndian products don't find a wider market because of lack of attention to detail. We hardly focus on the quality of product. Till we get rid of quick fix solution (jugaad) approach, we are not going to have a product with world wide acceptability.

    I agree with you; but Indian software companies have produced software for the Indian markets that works perfect - Tally, for example. A lot of computer illeterates definitely know about Tally. In fact I've met people who don't know what email is but they are Tally Masters.

    Lack of attention to detail might be one of the things that's hindering the growth of product companies. But the scene is changing. There are lot of home-grown companies that solve specific problems for 'Indians'. Think 'RedBus' - though their concept isn't new, their service works absolutely fine for bus bookings.

    Overall internet penetration in India stands lower and that might just be the reason for it. I expect a LOT of growth on the mobile front in coming days. We Indians have adopted mobiles faster than we adopted Television.

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