Indian Economy News

Various steps taken by the Government for Information technology exports from India

According to the data provided the by National Association of Software and Service Companies (NASSCOM), the total amount of IT export from the country in FY22 stood at US$ 178 billion.

The Government of India has taken various steps to increase the Information Technology export from the country. Those include the Software Technology Parks of India (STPI) Scheme, which is a 100% export-oriented scheme for the development and export of computer software, including the export of professional services using communication links or physical media. In addition to it, Special Economic Zones (SEZs) came into effect for the promotion of the export of goods and services.

The Ministry of Electronics and Information and Technology initiated a programme titled Future Skills Programme for Re-skilling/Up-skilling of IT Manpower for Employability (PRIME), which is a platform comprising various online skill providers for digital skills training on a national scale in the online mode. The government has also approved National Policy on Software Products-2019 with an aim to develop India as the global software product hub, driven by innovation, improved commercialization, sustainable Intellectual property (IP), promoting technology start-ups and specialised skill sets, for the development of the sector.

Additionally, Next Generation Incubation Scheme (NGIS) has been approved to support the software product ecosystem and to address a significant portion of the National Policy on Software Product (NPSP 2019).

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.