Electronic, software product policies to be launched soon

IT biz can build $1-trillion digital economy

The Centre on Friday said it will unveil two separate policies for the electronics sector and software products soon to boost sector growth.

“We will be shortly laying down the new electronics policy because between the old policy and (now), India under Narendra Modi has changed completely. Therefore, to boost electronics manufacturing, we will come up with a new policy,” IT Minister Ravi Shankar Prasad said here. 

The minister was addressing reporters after holding meeting with IT and electronic sector representatives on building India’s digital economy.  The first National Policy on Electronics was formulated in 2012 and approved by the Cabinet in 2013. With the change in sector for the past three to four years, the new policy will focus on growth areas in the electronics manufacturing segment.

The minister said the government will also roll out a new software product policy.

“There is a need to look at an inward software market. Therefore, we will come with a new software product policy and we are going to have framework for data security and protection policy,” Prasad said.

He also said the government set up innovative zones in different parts of the country to encourage people to establish startups with the focus on health, education and agriculture.  Earlier addressing the meeting, the minister said that the IT industry should help India build a $1-trillion digital economy within four years by creating affordable technology and an inclusive environment.

Highlighting that multi-billion dollar opportunities that exist in areas like IT and IT-enabled services, ecommerce, electronics manufacturing, digital payments and cyber security, he said the Indian IT sector has crossed Rs 10 lakh crore in revenue and exports have crossed Rs 7.5 lakh crore.