February 10, 2015: The worldwide revenue from connected devices is expected to be around US$ 27 billion. As per industry predictions, India could have a 5-6 per cent share of the global IoT industry. Hence, a multi-pillar approach is being sought to build up the framework of the IoT policy
EB Bureau
With the advent of the Internet of Things (IoT), experts predict that trillions of dollars worth of business will be generated, involving millions of applications. The Internet of Things will drive new consumer and business behaviour that will demand progressively more intelligent industry solutions. These solutions represent opportunities worth trillions of dollars for the IT industry. As the reports suggest, the number of Internet connected devices (12.5 billion) exceeded the number of humans (7 billion) on Earth in 2011. By 2020, Internet connected devices are expected to figure between 26 billion and 50 billion, worldwide. The Indian government’s plan to develop 100 smart cities in the country, for which Rs 70.6 billion has been apportioned in the current budget, could lead to the speedy expansion of IoT in the country. The launch of the Digital India Programme (DIP) of the government also adds the required impetus for the development of IoT. DIP aims at transforming India into a digitally empowered society and knowledge economy.
Objectives of the policy
-
To establish a US$ 15 billion IoT industry in the country by 2020. This will also increase the number of connected devices in India from around 200 million to over 2.7 billion by 2020. According to the Gartner report, the gross revenue generated from IoT services worldwide would be US$ 300 billion by 2020. The worldwide revenue from the connected devices is expected to be around US$ 27 billion. As per industry estimates, India will have a share of 5-6 per cent of the global IoT industry
- Advertisement - -
To develop human resources and technological capabilities for the IoT space for national and global markets
-
To take up R&D in all the supporting technologies
-
To create IoT products that address particularly Indian needs in the fields of agriculture, health, water quality, natural disasters, transportation, security, automobiles, supply chain management, smart cities, automated metering and monitoring of utilities, waste management, oil and gas, etc.
-
A multi-pillar approach is sought to implement the policy framework of the IoT policy. The approach encapsulates five vertical pillars (demonstration centres, capacity building and incubation, R&D and innovation, incentives and engagements, human resource development) and two horizontal supports (standards and governance structure).
Incentives and engagements
The draft IoT policy proposes that the capital goods or raw materials imported for the purpose of manufacturing IoT products in the country will be 100 per cent duty free. Venture funds would be encouraged under the Electronics Development Fund for companies that are in IoT related areas like memories, processors, sensors, low power devices, solar electronics, etc.
Human resource development
The policy has also suggested introducing an IoT based syllabus in B Tech and M Tech courses, along with introducing research programmes in this field. Additionally, certificate courses of two or six weeks’ duration in IoT training have been recommended.
