February 21, 2024

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India’s National Policy on software products to boost tech start-ups

The Ministry of Electronics and Information Technology released a notification on its policy regarding software products, earlier this year. The policy intends to create and support a number of tech initiatives and projects that work towards developing the software products sector in the country.

A primary objective of the policy is to nurture about 10,000 technology start-ups. This includes 1,000 technology start-ups in tier-II and tier-III towns and cities, which are expected to be able to generate direct and indirect employment for 3.5 million people by 2025.

The project also aims to develop the country as a global software product hub, driven by innovation, sustainable intellectual property (IP), promoting technology start-ups, and specialised skill sets based on ICT.

According to an official release, the information technology enabled services (ITES) industry of the country is a critical pillar in its economic growth.

The industry has the potential to be a driving force to develop capabilities for harnessing new technologies across India’s sectors, including agriculture, health, education, and manufacturing. This can also create significant employment and entrepreneurial opportunities.

The Digital India initiative that was launched in 2015, has ensured that the Indian IT industry delivers high-quality services at competitive prices. The programme is leading to a transformation of India into a knowledge-based economy and digitally empowered society based on technology that is inclusive, affordable, and sustainable. This has ensured digital access, digital infrastructure, and digital empowerment in the name of digital inclusion.

India’s digital footprint is one of the fastest growing in the world. It has the potential to become a trillion-dollar digital economy by 2025 and this digital transformation movement is finding global resonance.

The development of the software product industry will result in positive externalities for the entire spectrum of the Indian ITES sector, and hence for the overall economy, by facilitating the development of platforms that ensure that technology-based solutions are generated for sector-specific areas.

Furthermore, leveraging new and emerging technologies like AI, IoT, and blockchain to their maximum advantage across sectors of the economy require higher levels of innovation.

An outlay of about US $214 million will be used to implement the programmes under the policy over a seven-year period.

To cater to the large-scale requirements of trained manpower in new technologies, a programme has been initiated for the up-skilling of about three million IT professionals in emerging technologies.

A national “talent accelerator” programme targeting 100,000 school and college students, will be initiated to inspire young talent to work in software product development.

To improve access to domestic markets and cross-border trade promotions, Indian product start-ups and MSMEs will be encouraged to develop solutions for smart cities, healthcare, agriculture, e-learning, transport, and fintech.

These start-ups will also help solve several social challenges by, for example, using technology to bridge the digital divide, lower gender inequality, and empower less privileged citizens.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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