Software Industry in India

Software Industry in India

The software industry includes businesses for development, maintenance and publication of software that are using different business models, mainly either "license/maintenance based" (on-premises) or "Cloud-based" (such as SaaS, PaaS, IaaS, MaaS, AaaS, etc.). The industry also includes software services, such as training, documentation, consulting and data recovery. SOFTWARE INDUSTRY consists of that part of computer programming activity that is traded between software-producing organizations and corporate or individual software consumers. Traded software represents only a fraction of domestic software activity, whose extent cannot be reliably estimated since much computer programming takes place within firms and its value is not captured by the industrial census or software industry analysts.

The Software Industry, which is the main component of Information technology, has brought tremendous success for the emerging economy. India's young aged manpower is the key to this success story. Presently there are more than 500 software firms in the country.

India's software development industry has an early start than most countries by capitalizing on her endless pool of young developers and software engineers, but according to some India failed to move up the value chain of the IT global industry due to lack of innovation and complacency from easy third-party contracts given by US technology companies. Another big issue some feel is the lack of utility infrastructure and stable electric power supply to support a robust IT industry.Years of wholly relying on buying US hardware, US software licenses and US IT systems to repackage software applications and resell back to the US has killed innovation and tech-upgrading in the IT value chain. They feel which is the reason why India is unable to produce an Apple, Amazon, Microsoft, Tencent or Alibaba equivalent.

But in reality, the good news is that the change is already here.

The evidence of transformation is in front of you. Let me name these transforming Indian innovators:

Those who think that the Indian Software industry is all about outsourcing. That’s absolutely false. It is offshoring as well as contract development. It should soon turn into a highly competitive environment with many players growing and competing.