The software product segment in India which recorded revenue of $5.4 billion for FY14 reached $6.1 billion in FY15, registering a growth rate of 12%
Rahul Gandhi, who is on a two-day visit to the state met the startups in a closed door meeting with representative of companies like Big Basket, Ola, Zivame, Portea Media, Hector Beverages, Skanray Technologies, StayZilla etc in attendance. Besides there were also a few angel investors at the meeting.
Rahul Gandhi wanted to have a better understanding of the technology startups and e-commerce sectors which are expected to be the next big employment generators. Karnataka chief minister S Siddaramaiah and IT minister S R Patil were also present at the occassion.
Bengaluru has become India’s largest hub for technology startups and e-commerce companies given the talent pool in the city and Rahul Gandhi wanted to get a pulse of what’s ticking in these markets.
Prime Minister Narendra Modi has been championing the Make in India and Digital India themes and state politicians believe that Congress leadership too has to get a good grip on the latest in these matters.
India is considered to have the fourth largest startup base globally with 3,100 companies and over 800 new entities being created annually.
The software product segment in India which recorded revenue of $5.4 billion for FY14 reached $6.1 billion in FY15, registering a growth rate of 12%.
The key growth areas for software industry, according to Nasscom are: Indian middle class becoming voracious consumer of digital solutions, enterprise software & software as a services driving adoption and increased focus on domain solutions.