The National Association of Software and Service Companies (Nasscom) estimates that of India's US$52 billion in software and services revenue in fiscal 2008, the software product segment accounted for a mere US$1.4 billion. That's likely to change: Factors including a strong and growing domestic market, disruptions in technology and business models, a growing talent base, a now-well-established "India" brand and increased venture capital funding are expected to boost the segment in coming years. "The industry ... has the potential to grow to US$9.5 billion to US$12 billion by 2015," says Nasscom president Som Mittal.
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