Exhibit 21.1

List of Subsidiaries- NetSol Technologies, Inc.

1.  
NetSol Technologies, Ltd.; Lahore, Pakistan.
2.  
NetSol Connect (Pvt) Limited; Karachi, Pakistan.
3.  
NetSol Technologies Europe, Ltd; Horsham, England.
4.  
NetSol Abraxas, Inc.; Adelaide, Australia.
5.  
NTPK (Thailand) Co. Ltd.; Bangkok, Thailand
6.  
NetSol Technologies (China); Beijing, China
7.  
NetSol-Innovation (Pvt) Limited; Lahore, Pakistan.
8.  
NetSol Technologies North America; Emeryville, California.
9.  
Vroozi, Inc.; Calabasas, California