A study sees tremondous growth of inter of things industry in eastern India
GN Bureau | August 10, 2015
The 'Internet of Things (IoT)' can spice up the the east.
According to a joint report from PriceWaterhouseCoopers and Confederation of Indian Industries, West Bengal with Kolkata, is the most likely candidate to make the most from the IoT.
"Considering that West Bengal's share in the country's IT and ITeS revenue is around 4 percent, we can assume that the share of the eastern Indian states in the country's IoT revenue will be approximately 5 percent. This will mean potential revenue in the range of $750-900 million (roughly Rs. 4,781 crore - Rs. 5,737 crore) to be tapped from the region," the report said.
The recent IoT policy drafted by the department of electronics and information technology has aimed to create an IoT industry in the country worth $15 billion (roughly Rs. 95,631 crore) by 2020.
The study said the five east Indian states are fast evolving as lucrative destinations for the information technology (IT) and information technology enabled service (ITeS) sectors.
"While these regions were traditionally regarded as rich in terms of skilled resources and fostered academia through seminal educational institutions, they have been given a further boost through steps that are being taken by the respective governments for their digitization," it said.
The IOT enables objects to send and receive data at all times and communicate with each other using sensors and other micro devices. The report said IoT can help consumers achieve goals by greatly improving their decision-making capacity by leveraging on the augmented intelligence embedded within the smart devices and help companies achieve enhanced process optimisation and efficiencies.
Companies in the home and building, education, manufacturing, transportation, consumer electronics, retail, healthcare and other verticals are the key sectors which are investing in IoT, it said.
According to the industry association the allocation of Rs.7,060 crore for the smart cities project will lead to massive expansion of the IoT sector in the country.
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