With the exponentially growing vehicle population on our urban roads, technological advancements in ICTE and government initiatives for improving transport infrastructure, importance of Intelligent Transportation System (ITS) is getting prominence day-by-day. The world is now moving towards Physical Internet and inclusion of Cyber Physical Systems and Augmented Reality (AR) in the Transportation Sector backed with Internet of Things (IoT), Big data analysis and Business Intelligence. It shows the importance of investing in R&D in Intelligent Transportation System. The Ministry of Electronics and Information Technology (MeitY), GoI had identified ITS as a major sector for investment in R&D and are funding ITS projects and programs since last two decades. The Urban Traffic Control System (UTCS) and Adaptive Traffic Control System (ATCS) funded by the Ministry and developed by the Centre for Development of Advanced Computing (C-DAC) in early 2000 are landmark achievements in this domain. The foresight of the Ministry in developing these products made us fit to meet the Intelligent Transportation Management System (ITMS) requirements of the recently announced Smart City initiatives with indigenous solutions.