The trend of Internet of Things (IoT) is spreading rapidly and many IoT products are hitting the market. IoT is a futuristic vision of internet in which our daily things along with computers and mobiles will have capacity to connect to internet. It has become popular in developed countries but in developing countries like India, where penetration of ICTs is still under advancement, such products are yet to capture people’s attention. The aim of this project is to carry out a preliminary research study for identifying potential of IoT in India. As IoT products originated in west, their development is based on underlying assumptions which may not be valid in Indian context. As a part of this project, we studied the current state of IoT field and designed India specific IoT concepts. We used these concepts as an ice breaker to have conversation with users in order to understand their concerns and inclinations. Finally, it helped us in coming up directions for further research and refining designed concepts. At the end of study, we propose new categories for grouping IoT products that are ownership, geography and domain. We also came up with list of common IoT systems and their functions which should be considered while designing IoT ecosystem. Other findings from study indicate that users want to control inference of IoT products in their life. Hence, users preferened PULL approach while using IoT systems. Users preference towards particular IoT product was mainly influenced by its utility and importance of function which it is serving.