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India poised to lead IoT industry: IT Secretary

IANS  |  New Delhi 

understands the potential of technology and should aspire for nothing less than a leadership role when it comes to adopting Internet of Things (IoT) to improve efficiencies across different sectors, a senior bureaucrat said here on Wednesday.

Launching the second edition of the 'IoT Congress 2017', Secretary Aruna Sundararajan said with the two largest industries -- (IT) and telecom -- that power the IoT industry, is poised to become a winner in this space.

"The capabilities in entrepreneurship in different sectors, the aspirational and second-to-none startup community in and the young demographics makes me optimistic that can forge ahead in this direction," Sundarajan told reporters here.

Organised by the Institute of Engineering and Technology (IET) India, the 'IoT Congress' is country's largest platform for accelerating business outcomes in IoT.

The global IoT market is set to exceed $300 billion by 2020 and with almost 1.9 billion devices to be connected to the internet in by 2023, Indian IoT market is forcasted to secure 20 per cent of the global IoT business ecosystem to reach nearly $15 billion in next three years.

The two-day event brought together decision makers and stakeholders from across sectors to discuss how IoT adoption could propel business forward by improving efficiencies and demonstrated cost savings.

The focus of this second edition is also to help delegates 'touch, feel and experience' the IoT in healthcare, manufacturing, smart living, Ganga rejuvenation, etc.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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