Economic viability and Future Impact of Internet of Things in India: An Inevitable wave

The Internet of things (IoT) , sometimes referred as Internet of objects can be stated as an environment in which any physical things or objects are assigned with unique addresses and an internet connection to communicate to external objects or people without requiring any human intervention. In year 2014 around three billion people around the world are reported to use internet for using social networking applications, ecommerce applications, surfing the web etc which is tenfold times as compared to 1993. India is not only leading the IT industry globally but it has also become the second largest country after china by the number of people using internet nowadays. It is also very much surpassing that the Internet usage is going beyond the literacy, which is clear from the analysis done in 2015 that out of 50 million users, 50% i.e. 26 million users are from rural India. Many Initiatives are been launched by major companies like Google India, Tata communication and Intel to bring internet to the doorstep to educate rural women. As more and more masses will avail to such plethora of information and communication platform, the day is not far when Internet will be used as a infrastructure for allowing every objects and things talk, communicate, coordinate compute and share information. Hence it’s important to study and predict the technologies associated with Internet communication such as IoT. This paper studies the evolution of internet usage and classifies the impact areas where internet will go beyond personal communication or knowledge interface but it will provide communication and knowledge base support to numerous gadgets and systems around us. We will also present classification of smart objectswhich are the building blocks of Internet of Things depending on various characteristics in section III. And lastly in section IV we will present the future positive and negative impact of IoT in various sectors at individual and commercial space. Keywords— Internet of Things, IoT, Smart Objects, Wireless sensor networks, Future Impact.