Mon, Jul 24, 2017 | updated 10:24 PM IST

Indian IoT market set to grow up to USD 15 billion by 2020

Updated: Oct 05, 2016 14:36 IST      
Indian IoT market set to grow up to USD 15 billion by 2020

New Delhi [India], Oct 5 (ANI): Focusing on the rise and evolution of the Internet of Things (IoT) across industries in India, the National Association of Software and Services Companies (NASSCOM) today kick-started the eighth edition of NASSCOM Design and Engineering Summit, Bengaluru.

The two-day event focusing on the theme of, 'Imagineering for the Digital Future' analyses the role that IoT will play in creating digital utilities especially in the areas of design and engineering that will drive the growth of future technologies in the country.

"ÏoT has started being incorporated into both consumer and industrial applications being utilized in critical verticals like Healthcare, Automotive and Manufacturing. The ecosystem is rapidly expanding, owing to demand for both Industrial and Consumer IoT applications and is set to be a critical part of the next level of growth for the IT industry," said Inventor of the Internet of Things and Author, Kevin Ashton.

On the side-lines of the summit, NASSCOM in collaboration with Deloitte also launched a report on 'IoT - Revolution in the Making'. The report lays emphasis on the growth of Internet of Things, as not just creating consumer solutions but also adding value in industrial applications. Reiterating the need for innovative solutions, the report states that the IoT segment is expected to grow across industries, with utilities, manufacturing, automotive and transportation and logistics providing greater opportunities for development, compared to other sectors.

"IoT as a concept has seen vested interests from across industries globally and is set to become a major differentiator in driving the next generation of services and products. In India, while the industry is at nascent stage industrial applications of IoT primarily in manufacturing, automotive and transportation and logistics are expected to drive IoT revenues by 2020," said President NASSCOM, R Chandrasekhar. (ANI)

New Delhi [India], July 24 (ANI-NewsVoir): Pluss Advanced Technologies Pvt. Ltd., a venture funded company by Tata Capital Innovations Fund, has received Rs. 50 lakh grant under the Millennium Alliance Programme by FICCI. The award was presented by Dr. Harsh Vardhan, Union Minister for Science and Technology, Earth Sciences, Environment, Forests and Climate Change, Govt. of India.

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New Delhi [India], July 24 (ANI-NewsVoir): CFA Society India, in collaboration with CFA Institute, the global association of investment professionals, hosted its second annual India Wealth Management Conference, in Mumbai.

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One stop shop for commercial property owners in Mumbai

Updated: Jul 24, 2017 17:09 IST     

New Delhi [India], July 24 (ANI-BusinessWireIndia): Jagaha.com is Mumbai's first dedicated commercial real estate platform. The company started its operations in 2015 with an aim to enhance the commercial real estate market experience by bringing transparency and efficiency through technology and customer service.

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Qbera begins next phase of expansion in Mumbai

Updated: Jul 24, 2017 16:58 IST     

Mumbai [India], July 24 (ANI):Qbera, a fin-tech start-up offering personal loans has announced the launch of its operations in Mumbai as the digital platform facilitates access to funds for salaried individuals through an application process for unsecured loans, providing instant approval and quick loan disbursals.

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New Delhi [India], July 24 (ANI-NewsVoir): KENT RO Systems Ltd., one of the most renowned healthcare brands in India, has been signed up as the principal sponsor of the Pro Kabaddi League team, Haryana Steelers, owned by JSW Group.

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Aasaanjobs announces launch of operation in Ahmedabad

Updated: Jul 24, 2017 16:23 IST     

New Delhi [India], July 24 (ANI): Online recruitment marketplace Aasaanjobs on Monday announced foraying into Ahmedabad, as a part of its strategic expansion plan.

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New Delhi [India], July 24 (ANI): Union Finance Minister Arun Jaitley on Monday introduced a bill to authorise the direct banking companies to resolve the problem of stressed assets.

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New Delhi, July 24 (ANI): Zee Learn Limited, India's leading Education company and India's Most Trusted Diversified Education Brand*, today reported its Standalone and Consolidated Q1 FY18 financial results. The company delivered healthy topline growth and improved its margins by leveraging its business model.

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Mumbai (India), July 24 (ANI): The Standard Chartered Bank on Monday launched a 'Multicurrency Forex Card' to allow customers the convenience of loading up to 20 widely used currencies on one card with an online reload facility during overseas travel.

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New Delhi [India], July 24 (ANI): The world's largest processed fertilizer cooperative, Indian Farmers Fertiliser Cooperative (IFFCO), today announced signing of a Memorandum of Understanding (MoU) with the Government of Sikkim.

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Aye Finance expands its reach; doubles its footprint in Q1

Updated: Jul 24, 2017 14:09 IST     

New Delhi [India], July 24 (ANI): New age finance company Aye Finance on Monday announced expanding its reach from 33 to 67 branches, thus making more than a double expansion in the first quarter of current financial year.

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ITC gains 2 pct after hike on cigarettes prices amid GST

Updated: Jul 24, 2017 13:52 IST     

New Delhi [India], July 24 (ANI): Shares of ITC gained 2.4 percent in the morning trade on Monday as the cigarette major hiked select product prices following Goods and Services Tax (GST) Council hiked cess to pre-GST level.

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New Delhi [India], July 24 (ANI-NewsVoir): The Millennium Alliance Initiative on Thursday recognized 24 high-impact social innovations from India at an award ceremony organized in New Delhi. The 24 finalists selected from a pool of 710 applications will together receive funding support worth Rs. 8.15 crore.

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New Delhi [India], July 24 (ANI): The opening trade on Monday flagged off on a positive note, with market indices triggeringg a record high with Sensex up by over 133 points at 32,174.51, while the Nifty at 9,947.30.

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New Delhi [India], July 24 (ANI): The International Monetary Fund, in its World Economic Outlook on Monday highlighted a pattern of surge in growth rate among the emerging economies, while the likes of the United States of America and United Kingdom are witnessing a slowdown.

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New Delhi [India], July 23 (ANI): With initiatives like Bharat Net aiding the expansion of broadband network in India, initiatives like Digital India are said to gain momentum, leading to the expansion of social media, an ASSOCHAM paper noted.

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40 percent of India's GDP outside GST: Chidambaram

Updated: Jul 23, 2017 17:51 IST     

Pune (Maharashtra) [India], July 23 (ANI): Criticising the Centre's formulation of the Goods and Services Tax (GST), former finance minister and Congress leader P. Chidambaram pointed out that many products have been kept out of the new tax regime.

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New Delhi [India], July 22 (ANI): The fourth edition of Madhya Pradesh Travel Mart themed 'Seek-Discover-Explore' will be held at Bhopal from October 27 to 29.

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New Delhi [India], July 22 (ANI): Telecom Regulatory Authority of India (TRAI) Chairman R S Sharma on Saturday said that the authority is in view of creating a framework for data privacy and protection, which will be specifically limited to the telecom sector.

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New Delhi [India], July 22 (ANI): Toronto Recombinant Antibody Centre (TRAC) from the University of Toronto, Canada agreed to license MedGenome's patented cancer immunotherapy solution OncoPept to develop biomarkers for their drug candidates against immune modulators to treat cancer.

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