NASSCOM and ITAC Japan sign MoU to boost IoT ecosystem in India

In a bid to boost digital technology and develop the Internet of Things (IoT) ecosystem in India, the National Association of Software and Services Companies (NASSCOM) has signed a Memorandum of Understanding (MoU) with the IoT Acceleration Consortium (ITAC) Japan.

K.S. Viswanathan, Vice President (Industry Initiatives), NASSCOM, said: “IoT can be termed as the fourth wave of industrial revolution and in India it has the potential to penetrate across businesses horizontals, encompassing services and manufacturing."

He further added, "It is imperative that there is a global effort towards accelerating IoT in every sector, this partnership will be another key milestone in building this robust ecosystem of collaboration and open new avenues."

Under the MoU, both organisations will share information on the ecosystem, new practices and technological developments.

According to the Economic Times report, Nasscom and ITAC-Japan will also perform various activities like "exchanging statistics and dynamic practices related to the respective IoT industries and will look at facilitating exchange programs for association members."

Recently, NASSCOM inaugurated the Internet of Things (CoE- IoT) at the Nasscom Startups Warehouse in Bangalore. The centre focuses on leveraging IT strengths and creating a new age industry with the support of IoT-based ideas.

By 2020, the IoT market in India is expected to reach $15 billion and account for nearly 5 percent of the total global market.