5G to inject USD 450 billion into Indian economy by 2040: Telecom Minister Scindia

Union Minister of Communications Jyotiraditya Scindia said on Monday that the adoption of 5G technology in India is expected to contribute an estimated $450 billion to the country’s economy by 2040.

Speaking at the Global Standards Symposium, one of the world’s largest telecom events, held at Bharat Mandapam in New Delhi, Scindia said: “In India alone, 5G is anticipated to inject an astounding 450 billion dollars into the economy by 2040.”

Scindia underscored that 5G is about more than just faster internet speeds and reduced latency; it is laying the foundation for smart cities, advanced infrastructure, and autonomous innovations.

He highlighted the rapid rollout of 5G across India, noting that in just 22 months, the technology has been rolled out in all states and Union Territories, reaching 98% of districts and 80% of the population.

“We are unlocking new realms of possibility in healthcare, education, agriculture, and manufacturing,” Scindia said, emphasizing the transformative impact of 5G across key sectors.

Scindia also stressed the importance of international collaboration in maximizing the potential of emerging technologies like 5G, artificial intelligence (AI), and the Internet of Things (IoT). He pointed out that international standards are crucial to ensuring these technologies work seamlessly across borders.

“The import of dialogue cannot be overstated. The wonders of 5G, the brilliance of artificial intelligence and the interconnected marvels of the Internet of Things are transforming industries, societies and manufacturing processes and economies on a global scale,” he said.

Scindia also emphasized the need for robust governance frameworks for emerging technologies like AI and IoT, urging ethical considerations and regulatory measures to address concerns around privacy, bias, and transparency.

He called for a comprehensive policy approach to ensure that future innovations, such as the upcoming 6G technology, benefit everyone equitably and do not deepen existing digital divides.

“We are today poised at the edge of a new technological era, the dawn of the 6th generation of mobile network 6G, and this is a gateway to the future where communication will become boundless, where innovation will know no limits,” he said.

Scindia urged the global community to collaborate in setting standards and nurturing partnerships to shape the future technological landscape, ensuring that technology serves as a force for good.