“Every year from now on, we will see many Indian software companies valued at $1 billion and over and there are claims that one company has been valued at $1 billion this year already,” exulted Sharad Sharma, Chair of the NASSCOM Product Forum. That one company he was hinting about that made it to the $1 billion valuation league is obviously Flipkart. But the company has firmly denied the media reports stating it is all media speculation. Sharad Sharma went on to call the decade 2011 to 2020 as ‘The Decade of Software’ in the third wave of IT in India. His forecast may not be far fetched. InMobi, SnapDeal, ZOHO and other companies are waiting in the wings to make the grade as marquee software product companies from India. They already are. InMobi and ZOHO’s common competitor is Google. It is now a celebration of Indian liberated thought to take on Google. Who would have dared five years before is a huge question and India is coming of age in the software world as a product-capable nation.
“In the next ten years, India will the hub for ‘Software as a Service’ (SaaS) similar to auto components today,” predicted Sharad Sharma. India’s GDP is set to double in the next ten years and software products will play a major role contributing to the doubling. Rajendra S. Pawar, NASSCOM chairman, sounded equally optimistic. Explaining the trend of India’s software and hardware contribution to GDP growing ten times every ten years, Pawar said, “we might reach $750 billion in another ten years going by the trend but the realistic figures may be $350 to $400 billion.” If the GDP is going to be $2 trillion, then $750 billion is a sizeable contribution, which promoted Pawar to state, “we will define the trend.” Explaining the two theses of Vinod Khosla to embrace risk and Prof. Vivek Wadhwa’s creating army of mentors, Pawar was in no doubt about software products defining the trend of economic growth in India. Read the entire post here
Post Contributed by –Venkatesh Krishnamoorthy, Chief Evangelist
Related posts
- SOFTWARE PRODUCTS: Startup ecosystem rises to a new level
- Indian Software Startups Similar to Excitement of Late-90s Silicon Valley
- Obama’s team confident about made-in-India software
- Global SaaS opportunity, including Platform-as-a-service (PaaS) and Infrastructure-as-a-Service (IaaS), to exceed USD 30 billion by 2012
- The $141 Billion Training and eLearning Opportunity
