37 lakh crore will come into Indian economy due to 5 G, claimed Telecom Minister Scindia

New Delhi| Due to the 5 G technology of the telecommunication sector, an investment of about 450 billion dollars i.e. about 37 lakh crore rupees is expected in the Indian economy by 2040. Union Communications Minister Jyotiraditya Scindia made this claim on Monday.

“In India alone, investment in the economy from 5 G to 2040 is estimated to be $450 billion”, Jyotiraditya Scindia said while addressing the Global Standards Symposium, one of the world’s largest telecommunications events, at the India Mandapam in New Delhi

The minister stressed that 5 G is not just a matter of fast internet, but it is laying the groundwork for smart cities, advanced infrastructure and autonomous innovations. Scindia further said that 5 G has already started in all 36 states and union territories. The Union Minister pointed out that in just 22 months, it had covered 98 per cent of the districts and 80 per cent of the population. He said that this achievement reflects India’s technological power potential as well as our efforts to transform innovation as per global standards.

“We are opening new doors of possibilities in the fields of health care, education and agriculture and manufacturing”, he said. The Minister stressed the importance of international cooperation in unlocking the full potential of technologies such as 5 G, artificial intelligence (AI) and the Internet of Things (IoT). He said global standards are important to ensure that these technologies work harmoniously across borders.

“The importance of dialogue cannot be underestimated”, he said. The miracle of 5 G, the glow of artificial intelligence and the utility of the Internet of Things are transforming industries, societies and manufacturing processes and economies globally”

Scindia also stressed the importance of ethical considerations and regulatory framework to address concerns around privacy, bias and transparency in the face of the rise of emerging technologies like AI and IoT. He called for a comprehensive policy framework to ensure that future innovations, such as the upcoming 6 G technology, benefit everyone equally and do not deepen the existing digital divide.

“Today we stand on the cusp of a new technological era, with mobile networks about to enter a period of 6 G, where communication will become limitless, where innovation will have no limits and interconnectedness, by humanity, will become the cornerstone of our shared global destiny” he said. Scindia also urged the global community to work together in setting standards that define the technological landscape of the future and promoting partnerships to ensure that technology is used for good.