India is currently the world’s second-largest telecommunications market with a subscriber base of 1.20 billion and has registered strong growth in the past decade and half. The Indian mobile economy is growing rapidly and will contribute substantially to India’s Gross Domestic Product (GDP), according to report prepared by GSM Association (GSMA) in collaboration with the Boston Consulting Group (BCG). As of January 2019, India has witnessed a 165 per cent growth in app downloads in the past two years. 4.8 billion downloads of mobile applications were registered in India in first three months of 2019. India ranks as the world’s second largest market in terms of total internet users. The number of internet subscribers in the country increased at a CAGR of 45.74 per cent during FY06-FY19 to reach 636.73 million in 2018-19. Total wireless data usage in India grew 119.00 per cent year-on-year to 17,940,576 terabytes between April-June 2019. The internet subscribers reached 665.31 million till June 2019. With daily increasing subscriber base, there have been a lot of investments and developments in the sector. The industry has attracted Foreign Direct Investment (FDI) worth US$ 32.45 billion during the period April 2000 to December 2018, according to the data released by Department of Industrial Policy and Promotion (DIPP). The Indian Government is planning to develop 100 smart city projects, where IoT would play a vital role in development of those cities. The National Digital Communications Policy 2018 has envisaged attracting investments worth US$ 100 billion in the telecommunications sector by 2022. The Indian Mobile Value-Added Services (MVAS) industry is expected to grow at a CAGR of 18.3 per cent during the forecast period 2015–2020 and reach US$ 23.8 billion by 2020. App downloads in India are expected to increase to 18.11 billion in 2018F and 37.21 billion in 2022F.