Quick, India may not remain a software 'market' for long. It is becoming one of the world's top exporters of software.The Indian computer software industry grew at an annual compound growth rate of 46 per cent and reached US$ 1.2 billion in 1995.
Software exports, which is the mainstay of the Indian computer software industry, grew by more than 38 per cent. Even the domestic market grew by more than 45 per cent, making India one of the largest emerging markets for computer software.
Global software giants that are active in India include Oracle, Microsoft, Cypress, Spectra Innovations (of the US), LG Electronics (Korea), Siemens (Germany), while others like Hewlett Packard, IBM, Texas Instruments, Motorola, Digital Equipment Corporation, etc.
The government of India 's industrial and investment policies support all software ventures, particularly export projects. Import duties have been rationalized in the past years and are expected to be further reduced to enable the industry compete on a global basis. State monopoly on provision of Internet services was abolished in October 1998.
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