NEW DELHI, November 16: India is eyeing share of 5-6 percent in $300 billion global internet of things (IoT) industry in the next five years, Department of Electronics and IT Secretary JS Deepak today said.
"A policy framework around internet of things is in consultation stage. As per reports global IoT industry would be $300 billion by 2020 globally. The idea of IoT policy is that India should have 5-6 percent share at least of global industry," he said while speaking at the CII National IoT Summit.
Deepak said that the policy in works aims at creating $15 billion domestic industry by 2020.
Under Internet of Things technology various devices will be connected with internet that will automatically share data among concerned person.
"IoT can be a game changer. It can save lot of power. We see street lights being on in small cities and towns even during day. With help of technology such lights can be automatically turned off which can result in huge saving for the power sector," Babul Supriyo, Minister of State for Housing and Urban Poverty Alleviation said at the event.
Deepak said government has issued roadmap for development of machine-to-machine (M2M) communication which will lay foundation for IoT in the country.
"The various policy piece that we are laying out will lead to IoT becoming a centrepiece of Digital India structure. Increasing M2M communications has been something that we have always inspired for," Deepak said.