The digital space has witnessed major transformations in the last couple of years and as per industry experts would continue to evolve itself. The latest entrant to the digital space is the Internet of Things (IoT). IoT can also be defined as interplay for software, telecom and electronic hardware industry and promises to offer tremendous opportunities for many industries.
With the advent of the Internet of Things (IoT), the number of connected sensors soon will reach trillions, working with billions of intelligent systems involving in-numerous applications will drive new consumer and business behaviour. The demand for increasingly intelligent industry solutions based on IoT will drive trillions of dollars in opportunity for IT industry and even more for the companies that take advantage of the IoT.
One of the top most initiatives in the form of Digital India Program of the Government which aims at ‘transforming India into digital empowered society and knowledge economy’, is expected to provide the required impetus for development of the IoT industry ecosystem in the country.
Department of Electronics and Information Technology,(DeiTY) has come out with a draft IOT Policy document which focuses on following objectives:
i. To create an IoT industry in India of USD 15 billion by 2020. It has been assumed that India would have a share of 5-6% of global IoT industry.
ii. To undertake capacity development (Human & Technology) for IoT specific skill-sets for domestic and international markets.
iii. To undertake Research & development for all the assisting technologies.
iv. To develop IoT products specific to Indian needs in all possible domains.
The Policy framework of the IoT Policy has been proposed to be implemented via a multi-pillar approach. The approach comprises of five vertical pillars (Demonstration Centres, Capacity Building & Incubation, R&D and Innovation, Incentives and Engagements, Human Resource Development) and 2 horizontal supports (Standards & Governance structure).
We invite your attention and comments to further improve the draft policy to create ecosystem for IoT industry in the country.