How India logged into global SaaS product story
Summary
On March 11, 1999, Infosys listed on Nasdaq , marking the beginning of the rise of Indias presence as an information technology ( IT ) powerhouse. In the ensuing decades, India quickly became synonymous as a hub for high-quality but cost-effective business process management (BPM) work. Most software is expected to become SaaS by 2030, and Indias software product industry may overtake the IT services industry, creating $500 billion-$1 trillion in value and generating 3-4 lakh jobs.The startup ecosystem, especially of SaaS startups, is now well integrated with the economy, creating a multiplier impact on digitalisation, innovation, value creation and jobs. It will have to nurture the ecosystem through enabling policies and specific interventions to create intellectual properties (IP), investments, employment to build world-class products. It will also need to strive towards developing a seamless, transparent, and inclusive digital ecosystem driven by Indias world-class innovation capabilities.Patents form a large part of the valuation of startups.