Reliance Industries Limited and GE announced the signing of a global partnership agreement in the Industrial IoT (IIoT) space whereby RIL and GE will work together to build out joint applications on GE’s Predix platform. The first-of-its-kind partnership marks the coming together of two of the world’s largest industrial conglomerates to provide Industrial IOT solutions to customers in oil and gas, fertilizer, power, healthcare, telecom and other industries. The agreement was signed in the presence of Jeff Immelt, Chairman and CEO, GE and Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited.
GE will provide its Predix cloud offering, Industrial Internet applications and data science expertise. RIL will develop solutions on Predix as an Independent Software Vendor (ISV), bringing to bear its over 30 years of data, process and operational expertise. RIL will also offer nationwide connectivity infrastructure to customers through a 4G network powered by Jio. GE would offer the security, availability and monitoring aspects of the platform to RIL and its customers. The potential for other revenue streams includes telecom, healthcare and agriculture.
“India’s potential in driving the migration to digital is well appreciated. The partnership with Reliance Industries will shape the future of the Industrial Internet not just in India but globally. The possibilities that it opens to develop solutions on our Predix platform for the industrial sector are endless,” said Jeff Immelt, Chairman and CEO of GE.
“The presence of ubiquitous high bandwidth connectivity and cloud services enabled by Jio will be a key enabler for the rapid growth of IIoT within India. Indians have been in the forefront of creating smart and innovative solutions in a number of fields. It’s time we brought smart manufacturing capability into India by providing value added IIoT solutions for the industry that will enable India’s economic growth,” said Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd.
Digital solutions have the potential to save billions of dollars each year. Use of data as the fuel and analytics as the growth engine promises to drive disruptive and positive changes across the industrial landscape.