Bangalore, Aug 11: A new NASSCOM report has said that the India could achieve a software product business of USD 9.5 to 12 billion by 2015 from the present USD 1.4 billion. Briefing newspersons at the second annual 'Product Conclave' here, NASSCOM Chairman Ganesh Natarajan the 'NASSCOM Software Product Study' aimed to define a roadmap on the market opportunities and key recommendations to help India emerge as a 'product' country. The IT industry would maintain a growth of 35 per cent for the next seven years overcoming the slowdown in US economy, which was hits main market now. The present slowdown is only a temporary, he said.
"The product segment in India is coming of age with worked class IP now being created in key domains and end-to-end services provided to global ISVs by captive and third party units in India. New models like SoA and SaaS are maturing," he said.
NASSCOM President Som Mittal said product segment in the country had the potential to grow ten times its current size over the next decade.
Talking on the findings of the report Pari Natarajan, CEO of Zinnov said the study had revealed that there was lucrative domestic market for software products and the products of Indian IT companies would become acceptable. The industry exported 68 per cent of its products at present, he said.
Mr Natarajan said that there was no need to have any apprehension due to prevailing market conditions. Finance would not a problem since a number of Venture Capital (VC) funds coming forward to invest from abroad. They had so far invested USD 550 million and ready to invest more, he said.