Government should look to introduce special monetary incentives for the Indian software product companies that invest heavily on research & development to create world-class software products. These products are not only the major revenue streams to bring in foreign exchange and reducing fiscal deficit, but are also the technology assets that can make us a global superpower. Developing advanced indigenous technology is integral to the ‘Make in India’ initiative and in realizing the dream of Digital India. Of course, the employment opportunities created in the process for the skilled workforce is insurmountable.
The focus should be on setting-up more IT and software parks to bolster growth in the Indian IT industry. The government should also provide a level playing field to Indian firms for all IT related projects and initiatives being planned.