Nasscom on Monday predicted that Indian software companies will generate $10 billion from IT products by 2020 as part of its initiative to strengthen the seven?sub-sectors?based on recommendations made by the NR Narayana Murthy committee, formed to formulate Vision 2020 . This initiative will drive innovation in the software product sector, according to the Nasscom Product Council, headed by Ravi Gururaj, founder of Harvard Business School Alumni Angels.
Nasscom felt that these initiatives will help transform the $2.2-billion products sector to?quadruple in the next seven years in the emerging spaces like Cloud, Analytics and Social, along with Internet and Mobile. It also felt that companies can now use the domestic market better, since it is huge enough to be used as a springboard before catering to global clients for the 2,400-odd IT product companies in India.
The IT industry body will integrate this initiative with its other initiatives like Emerge Forum and the 10,000 startups initiative.
