While the outlook of global economic growth is strategically poised with digital innovation being one of the key drivers, Internet plays a significant role as a facilitator of cost-effective and efficient service provider.
Internet of Things (IoT), which proposes to integrate internet in everyday objects in a network allowing regular transfer of data might is believed to be the next big thing in the era of digital innovation.
MN Vidyashankar, the President of India Electronics & Semiconductor Association (IESA) was in a candid conversation with MIG at the backdrop of IoTNext 2016, an upcoming event in Bengaluru that aims to build a common platform for the stakeholders of the entire IoT ecosystem.
The following QnA would give the readers a holistic idea about the event and its future plans in terms of building India as the powerhouse of digital innovation.
A monumental experience to backup the IESA Executive Council – please tell us about your background and how you got involved with IESA?
I have been associated with tech companies for more than 25 years now and I know the industry from very close quarters. Getting an opportunity with IESA helped me to work for the ESDM industry in promoting the mission and vision of IESA.
Focusing on the demands of the ESDM sector and taking them to the logical end with all the stakeholders has been a great experience for me personally.
Internet of Things (IoTNext 2016) must be your brainchild; let our readers understand the idea from the President himself.
IoTNext was kick-started in 2015 and is the brain child of two associations, i.e. IESA and TiE, Bangalore. Together, the organisations have organised various events and workshops in the past, to create enhanced networking opportunities and impart technical knowhow to the industry and assist start-ups in the various activities starting from mentoring, training and funding support amongst others. Beginning from there, IESA and TiE decided to reach out to a larger group of stakeholders and bring a platform to the entire IoT ecosystem. And that’s how IoTNext came into existence.
Why do you think this event is going to be an important landmark?
IoT industry would cross the USD 400 billion (EUR 360 billion) marks and the number of connected devices is expected to be more than 30 billion by 2020, globally. Government of India has plans of developing 100 smart cities in the country, which will further boost the IoT industry.
The objective is to create an IoT industry in India worth USD 15 billion (EUR 13.45 billion) by 2020, which will lead to an increase in the connected devices from around 250 million to over 2.7 billion by 2020.
At this juncture, an event like IoTNext will become a platform for the industry, government, academia and other bodies to come together, meet, get insights to the latest trends and decide on the roadmap ahead.
How is India positioned to become one of the key drivers of the global digital business in terms of technology-based solutions that transform human lives and societies?
The global market for IoT in 2020 will be worth USD 400 billion (EUR 360 billion) in revenue, with USD 215 billion (EUR 193 billion) from hardware and USD 185 billion (EUR 166 billion) from software. India will account for at least USD 15 billion (EUR 13.45 billion) or more of this total revenue forecast and electronics hardware will play a major role.
There are close to 20,000 start-ups in India which are dedicatedly working in IoT space across various domains, including technology-based solutions that will transform human lives and societies, with seamless connects between the cyber and the physical worlds. Some of the start-ups are mentored by IESA. There is a huge potential for India in this booming IoT domain.
Help our readers understand the future of this event and how it can garner interest in the European market?
The event IoT Next 2015 witnessed over 730 delegates, around 60 national and global speakers/panellists from Europe, America etc. 20 IoT product start-ups and 16 healthcare product companies exhibited their offerings. European companies like Siemens, Bosch etc presented their viewpoints on Industry 4.0 session, Automotive etc. These inputs received a lot of interest and many medium to small enterprises evinced substantial interest in understanding and taking the required steps to expand their footprints.
IoTNext also opened up many new avenues for the companies to participate in a broader way and establish wider networking opportunities. The event will be bigger and so are the opportunities.
Finally, let us know about the theme of this year’s show – “Realities and the road ahead” – what is the role of IESA in fostering entrepreneurship in India?
IESA and TiE have been mentoring many start-ups and actively aiming at fostering entrepreneurship in India. We are organising IoT Next Awards 2016 along with the IoT Next event, with the aim of recognising and encouraging the potential start-ups and further assist them to move forward in increasing their scale of operation.
M.N. Vidyashankar most recently served as the Principal Secretary to the Government of Karnataka and brings over 30 years of rich experience in management and administration of various government offices, autonomous bodies, boards and corporations.
Vidyashakar joined the IAS in 1982 and served various government departments at the state and central level before moving on to hold the position of the Principal Secretary, Department of Information Technology, Biotechnology and Science & Technology, Department of e-Governance, Government of Karnataka. He was also the CEO of the Karnataka Industrial Areas Development Board and has served as the Chief Electoral Officer at Bangalore.