Abstract
India’s success in the software arena can largely be attributed to the industry’s knowledge and expertise in cutting edge technologies. Indian software companies have constantly striven to stay abreast of global technology trends by embracing technologies that are gaining pre-eminence globally.
Despite the success of the Indian software industry both on export and domestic fronts, its share in the $ 150 billion world’s market for packaged software products is less than 1%. The Indian software industry model traditionally based on contract work from multinational companies is not conducive for the growth and development of the software industry.
This model has lead to recent decline in the growth rate of a large number of software companies. To ensure sustained high growth rate, IT industries need to take another look at their business models and create conditions for their upward movement over the software value chain.
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