- To create a robust software product ecosystem, which aims to develop India as a Software Product Nation and the global software product hub.
- Policy aims to align with other Government initiatives such as Startup India, Make in India and Digital India, Skill India etc so as to help the industry grow at Compound Annual Growth Rate (CAGR) of 40% to reach $70-80 billion by 2025, while creating employment opportunities for 3.5 million people.
- The policy has the following five missions:
- to promote the creation of a sustainable Indian software product industry, driven by intellectual property (IP), leading to a 10-fold increase in Indian share of the Global Software product market by 2025.
- To nurture 10,000 technology startups in software product industry, including 1000 such technology startups in Tier-II and Tier-III towns & cities and generating direct and in-direct employment for 3.5 million people by 2025.
- To create a talent pool for software product industry through up-skilling of 1,000,000 IT professionals, motivating 1 lakh school and college students and generating 10,000 specialized professionals that can provide leadership.
- To build a cluster-based innovation driven ecosystem by developing 20 sectoral and strategically located software product development clusters having integrated ICT infrastructure, marketing, incubation, R&D/testbeds and mentoring support.
- In order to evolve and monitor scheme & programmes for the implementation of this policy, National Software Products Mission will be set up with participation from Government, Academia and Industry.
- National Software Product Mission (NSPM) is to be housed in Ministry of Electronics and IT (MeitY) under a Joint Secretary, with participation from Government, Academia and Industry.
- An outlay of Rs.1500 crore is involved to implement the programmes/ schemes envisaged under this policy over the period of next 7 years.
- The amount is divided into Software Product Development Fund (SPDF) and Research & Innovation fund.