The IoT industry is slated to reach $300 bn globally with the number of connected devices expected to be 27 bn by 2020, as per a report by Gartner. And India will have a share of 5-6% of the global IoT industry. The launch of the ‘Digital India’ program and the ‘Smart City’ concept by the government is providing the required impetus for the development of the IoT industry in the country. The government is also making efforts to promote the IoT industry in India. Here are a few takeaways of the IoT policy drafted by the government:
IoT Center Can be Set-up Anywhere: The IoT developmental center can be set-up anywhere in India. And the Internet and space would be made available at subsidized rates.
Raw Materials Import with a duty benefit of up to 100%: The capital goods/raw materials required for manufacturing IoT products can be imported with a duty benefit of up to 100%. Even the capital goods/raw materials purchased from the domestic market are entitled for reimbursements of excise duty and CST.
Support to Participate in International Global Trade Fairs: The government will support the participation of India-based IoT companies in international global trade fairs to showcase Indian industries’ capabilities in IoT. It will also fund (up to 100%) IoT specific study tours by the industry associations and supporting government organizations.
IoT Curriculum Introduced in Academics: For developing skillsets for IoT, there is an introduction of IoT curriculum at M. Tech, B. Tech, and Ph.D levels. The government sponsors 150 students every year for the fellowship program. Certification courses in IoT, workshops for working level executives from industry and faculty, introducing cross country pacts for IoT education exchange programs, and introducing bilateral cooperation programs between Indian premier institutions and institutes of other countries are part of the various initiatives taken by the government.
Setting up Incubation Centers: The government will set-up incubation centers (National Center of Excellence) under the PPP mode with Nasscom and other industry associations. It is aimed at setting up of five IoT centers in the next five years. A budget of Rs 100 crore has been benchmarked for the set-up, wherein the latest gadgets and instruments would be provided for researchers to come up with ideas pertaining to IoT implementation.