 "RIL Q1 consolidated net at Rs 7,464 cr")
Reliance Industries (RIL) has entered into a global partnership agreement with NYSE-listed GE to enter in the Industrial Internet of Things (IIOT) space by building joint applications on the latter's Predix platform, it said on Thursday.
Predix-based apps connect industrial equipment, analyse data and deliver real-time insights. The two partners aim to provide IIOT solutions to customers in oil & gas, fertiliser, power, health care and telecom, among other sectors.
RIL also looks to offer nationwide connectivity infrastructure to customers through a fourth-generation technology (4G) network powered by its telecom arm, Jio. “India needs to rapidly move to the next level of smart manufacturing, which leverages big data, algorithms and sensor technology. The presence of ubiquitous high bandwidth connectivity and cloud services will be a key enabler for the rapid growth of IIOT within India,” said Mukesh Ambani, chairman of RIL.
Research firm Gartner estimates a market opportunity globally of $25 billion by 2022 for IIOT solutions in oil & gas, power, health care and transportation.
