Nasscom has offered to build an eco system for the product industry in the country.
Addressing a press briefing on the eve of Nasscom's Product Conclave 2011, Mr Sharad Sharma, Chair, Nasscom Product Conclave said, “Nasscom can help in three ways. We can bring the industry together, help companies with areas like mentoring and market access, and also assist with policy advocacy.”
Discussing the size that could be addressed, he said that SMBs (small and medium business) in the future may contribute $700 billion to the GDP and even if 2 per cent ($14 billion) could be tapped by Indian product companies, it would still be a big amount for product companies from India. Right now, he said that around 2,400 product firms had generated revenues to the tune of $2 billion.
An interesting factor in the growth of product companies is the aggressive push towards tier II and tier III cities. According to Nasscom, the number of product firms from tier II and tier III cities has almost doubled in the last three years and currently stands at 330 companies.
As part of the launch, Nasscom also showcased 10 companies with innovative products. These included Paawa Software, which has created a solution for sharing files with Gmail with access control, Ozonetel with its cloud-based telephony platform, NRich Software which offers solutions for diabetics, and others.