The Fact News Service

5G will contribute USD 450 billion to Indian economy in next 15 years

New Delhi, May 19

India is providing necessary impetus to the Digital sector and it has already started reaping coveted results. Digital India drive has become the bedrock for next-generation India. Underscoring that the nation was moving towards transparent and effective governance, Indian Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal noted that the nation has moved transparently from 2G/3G to 4G and now 5G. 5G will contribute USD 450 billion to the Indian economy in next 15 years and the launch of indigenous 5G testbed will be milestone towards Aatma Nirbhar Bharat (Self-reliant India) in telecom. It will help in digitising the economy, boosting Startup ecosystem, improving governance, ease of living and ease of doing business in the country, he added. The minister also congratulated India’s telecom sector watchdog Telecom Authority of India for completing 25 years. Nearly 400 comprehensive GIS-based maps already prepared under PM GatiShakti National Master Plan.

This digital push has opened up various investment opportunities abroad for India. Goyal emphasised that the revolutionary PM GatiShakti initiative would help solve the problem of haphazard development of infrastructure in the country and will help us build a secure, sustainable, scalable and collaborative approach towards infrastructure planning.

PM Gati Shakti is the National Master Plan for Multi-Modal connectivity to various Economic Zones.

The aim of Atmanirbhar Bharat is to make the country and its citizens independent and self-reliant in all senses. Indian Prime Minister Narendra Modi further outlined five pillars of Aatma Nirbhar Bharat – Economy, Infrastructure, System, Vibrant Demography and Demand. The Finance Minister further announces Government Reforms and Enablers across Seven Sectors under Aatmanirbhar Bharat Abhiyaan.

The government took several bold reforms such as Supply Chain Reforms for Agriculture, Rational Tax Systems, Simple and Clear Laws, Capable Human Resource and Strong Financial System. Speaking of the remarkable progress made by the telecom sector in the last few years, especially with regard to bridging the digital divide, Goyal expressed confidence that Information Technology and last mile digital connectivity will have an impact on every sector and would be the foundation of India’s growth story in the years to come. He added that Digital India would form the foundation for Aatma Nirbhar Bharat. Digital connectivity had played a crucial role in combating the COVID-19 pandemic by enabling quick and easy access to health infrastructure and other support systems world over.