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NASSCOM forms product council

Posted: 22 May 2013     Print Version  Bookmark and Share

Keywords:MASSCOM  product council  iSPIRT  startups 

Software body Nasscom has set up a software product council to promote product companies in India. The product council was set up on the recommendations of a committee headed by Infosys founder Narayana Murthy.

"The Indian software product industry is growing exponentially in terms of both revenue and people. The growth of the software product industry has leapfrogged in recent years signaling a transformation in India. In 2013, the total Indian software market was estimated to be in the range of Rs.11,956.52 crore ($2.2 billion). The total market opportunity in software products for Indian companies, comprising exports and the domestic market, is estimated to be Rs.54,347.83 crore ($10 billion) by 2020," NASSCOM said in its press release.

The Nasscom Product Council will be headed by Ravi Guraj, Chairman, Frictionless Ventures.

The council will focus on a six pillar engagement to enhance branding, market access, benchmarking, corporate connect, product design and enablement of product solutions in India.

Nasscom's move on the software product front comes after nearly 30 NASSCOM members formed a separate think tank, called the Indian Software Product Industry Round Table (iSPIRT), in February this year. iSPIRT's was formed with an objective to further develop the software products industry in India, which was not really happening under the NASSCOM umbrella as the IT trade body was all about favouring big IT services companies.

“I firmly believe that product companies and startups are the next growth engines for the industry and will contribute significantly in realising the vision outlined for the industry. I would like to welcome Ravi Gururaj as the newly elected Chair of the NASSCOM Product Council and as member of the NASSCOM Executive Council," said Krishnakumar Natarajan, Chairman, NASSCOM.

iSPIRT welcomes NASSCOM's move

iSPIRT welcomed the newly formed NASSCOM Product Council. It hopes that the formation of this Product Council will provide the impetus for resolving the long pending policy issues that are deterring the growth of the Indian software product industry.

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