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5G opens opportunities for India’s digital economy

Other business opportunities become available just from a 5G perspective

It is expected that 5G will have a significant impact in several sectors, such as e-commerce, financial services, gaming, and logistics. PQN Studios/Shutterstock

Telecom Minister Ashwini Vaishnaw talked about a comprehensive policy roadmap for India’s digital economy in an interview with Indian Express.

In recent years, policies and regulations in India have been refined to broaden their scope and include internet enterprises, particularly Big Tech, under their domain.

5G in India, which was launched in 13 cities, including Bengaluru, Chandigarh, Gurugram, and Hyderabad, can bring significant economic benefits to the country, according to Swarajya Magazine. It provides faster speeds and lower latency compared to 4G, which are ideal as AI, the internet of things (IoT), metaverse, and other smart platforms become more common for individuals and enterprises.

Moreover, it is expected that 5G will have a significant impact in several sectors, such as e-commerce, financial services, gaming, and logistics.

Other business opportunities become available just from a 5G perspective. It is predicted that India’s economy will grow by USD450 billion in 15 years.

More: India’s economy surpasses the United Kingdom’s, ranking 5th

Manufacturing, technology and communication, healthcare, retail, and agriculture are just a few of the industries that will benefit from the 5G-driven economic growth. Remote-controlled devices, industrial automation, remote monitoring and quality control, and warehouse logistics automation are a few examples of industrial uses.

The pandemic yielded lower revenues for many industries in 2020, reported ETCIO. The industry that proved its resilience, however, was the software industry.

More than USD1.7 trillion was spent on technology (excluding hardware) in 2021 as consumers spent heavily on gaming, digital content, e-commerce, and social media. This number is projected to reach USD1.8 trillion this year.

India’s digital economy gains new opportunities from 5G. Its economic impact will be in billions; socio-economic worth trillions, and this is before 6G trials even begin in the country.

The Property Report editors wrote this article. For more information, email: [email protected].

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