>   My company is into DSP Design Consultancy and Tech Trainings,
>   in the area of Digital Signal Processing, Digital Image Processing,
>   and Front end VLSI space. For our kind of work Matlab is
>   a good commercial s/w but it's once license would rip-us
>   -off by 3 lakh Rs. Since mine is a self funded startup, we did
>   not have money to invest so much. Hence I was looking for
>   alternatives.

Have you looked at scipy?

http://www.scipy.org/

It includes a lot of packages for scientific computing and visualization.
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