National Policy On Indian Software Products
The national policy will be oriented towards giving this sector its recognition which it has not got for the longest time. This was informed by a government official who were in talks over the initiative. The policy was in demand for the longest time primarily from the tech industry who have been accusing the policymakers to showing a step behavior towards the software products segment.
It is estimated that the Indian software product industry index has grown by 26.6% in 2015 with 80 percent of the growth coming from companies focusing on global markets. Companies that are new including Druva, Freshdesk, Capillary, Team Indus (backed by Nandan Nilekani), Forus Health, Julia (an open-source language out of Bengaluru and the MIT) and car firm Savari are the ones leading the way.
The Department of Electronics and Information Technology have their policies for the IT sector and electronics, however, this is going to be the first time that a policy document would be drafted catering especially to the software products. Currently, the issues faced by software product companies are dual taxes due to digital prodcuts being downloaded from the Internet which are being treated both as products and services. There is also overregulation for recurring payments.