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Objects capable of communicating with each other through the help of Internet may be called Internet of Things (IoT) (Uckelmann et al., 2011). “The IoT is the extension of internet connectivity into physical devices and everyday objects embedded with electronics, internet connectivity, and other forms of hardware (such as sensors), these devices can communicate and interact with others over the internet, and they can be remotely monitored and controlled” (Brown Eric, 2016). The conception of IoT was for the first time brought by Ashton of Massachusetts Institute of Technology (MIT), USA long back in the year 1999. (Gao and Bai, 2014). IoT can establish constant connectivity with remote control ability and can share data to goods in the physical World (Peoples et al., 2013). The number of objects (things) connected through Internet forming IoT exceeded the number of people in the World by 2008 (Deutsche Welle, 2012) and it has been predicted that by 2020, the number of IoT devices would exceed 30 billion (ABI Research, 2013). Government of India is investing a lot considering its business opportunities. Government of India (GOI) is expecting a quantum hike in the matter of adoption of IoT. But the adoption of IoT is not found increasing in expected level. Applications of IoT would bring a drastic change in our daily life. IoT technology has been able to provide essential integration between data of real World with services covering information networking technologies (Gubbi et al., 2013; Choudhary et al., 2019). Studies conducted by Ministry of Urban Development (MOUD), GOI in 2015 have revealed that many industries in India have already adopted IoT technology for their business solution. It is expected that, in a near future, many other firms would adopt IoT for their business purposes (Smart City Mission, 2015; Ministry of Electronics and Information Technology, 2016, GOI). It is expected that a family home would contain more than 500 IoT devices by 2022 (Gartner, 2014). Predicting its business prospect, the GOI has already announced its draft IoT policy in the year 2015. We can fully enjoy the advantages of IoT by increasing its adoption and by realizing the reactions of its users. Studies are to be conducted to identify the factors that affect the users of IoT. Acceptance of users towards a new technology is the vital issue to nurture usage behavior (Yi et al., 2006). Majority of studies with IoT applications deal with business model from the private and public perspectives (Haller et al., 2009, Zhao et al., 2013). Adoption of a new technology should always be considered as a major issue (Bandopadhyay and Bandopadhyay, 2010). IoT technology is useful, easy to handle, safe, cheaper and compatible. It is known that the capability of smart objects to get them connected to the internet for the purpose of the transmission and reception of information (data) is referred and considered as IoT (Kolias et al., 2019). Rapid growth of use of IoT enabled devices has pulled the security and privacy vulnerabilities. The use of IoT has brought in a plethora of security and privacy risks to the end-beneficiaries. This includes the unauthorized and unsanctioned use (abuse) of personal information, breeding the enormous risks pertaining to personal safety (Voas et al., 2018; Kaur et al., 2019). In this paper, while identifying the factors impacting behavioral intention of users to adopt IoT, due focus has been given on the privacy and security issues. In this study, we have taken the conception of Technology Adoption Model. (TAM) (Davis, 1989). TAM has been proved to be a most parsimonious model, especially, focusing on the security and privacy issues (Harwood et al., 2017; Jayashankar et al., 2018; Hirsch, 2019). For better conceptualization, we have taken help of IDT (Innovation Diffusion Theory) (Rogers, 1962; Rogers, 1995) also with modification. A conceptual model has been developed. It has also been validated using different standard statistical tools. A précised conclusion and limitations of the study with directions to the future researchers have been added at the end.