5G Networks To Contribute USD 450 Billion To the Indian Economy
In India, the government is gearing up for the rollout of futuristic 5G networks. The government claims this will boost growth in the agriculture, health, education, and logistics sectors. This new technology will also simplify business procedures and bring cost savings to consumers. Read on to know how 5G networks can benefit the Indian economy. Now, it’s time to move from dreaming to reality.
Prime Minister Narendra Modi urges the rapid deployment of 5G networks in India.
India is planning to deploy 6G networks by the end of this decade, which will provide ultra-high-speed Internet connectivity. India already has 3G and 4G networks but is gearing up for the rollout of 5G in the next few months. This new technology is expected to boost the Indian economy by $450 billion over the next 15 years and help the country improve governance, education, healthcare, logistics, and more. The government is also preparing for the much-anticipated spectrum auction.
The Prime Minister’s recent visit to the US has highlighted the importance of deploying 5G networks rapidly in India. He met Qualcomm CEO Cristiano E Amon and stressed that the country has many business opportunities in the new technology. As he begins his official visit to the US, the Prime Minister will also meet President Joe Biden and Vice President Kamala Harris.
It will boost growth in agriculture, health, education, and logistics.
The telecom industry’s adoption of 5G technology is a vital step towards achieving self-reliance. In addition to enabling more efficient operations, it is expected to improve governance and ease of doing business in the long term. The testbed facility will boost growth in every sector of the economy and create vast employment opportunities, enabling businesses and consumers to take advantage of new technology to make their lives easier. According to reports, investments in this facility have increased by 1.5 times since 2014.
With more devices connected to the Internet, 5G will become even more critical. According to IoT Analytics, there will be more than 30 billion connected devices by 2025. The growing popularity of 5G tech has executives from all industries scrambling to utilize it. Some examples of 5G technology applications include the remote operation of robotic surgery or the development of self-driving vehicles. It could also improve crop management and increase efficiency in restaurant kitchens.
It will ease doing business in the country.
The upcoming 5G technology will help make the telecom sector more efficient and competitive. It is expected to lead to significant changes in the ease of living and doing business in India. The technology will also boost development across the healthcare, education, manufacturing, and transportation sectors. Moreover, it will create employment opportunities in numerous sectors. The government has already committed 1.5 times more funding to the project with its growing popularity.
But, telcos have resisted startup and enterprises’ efforts to set up 5G private networks. They argue that this is necessary to ensure a level playing field. In addition, the companies will need to consider the regulatory environment in the country and the GDP and disposable income of residents before making a decision. In the short term, it is better to get the spectrum from the government than compete with telcos.
It will reduce costs for consumers.
As 5G technology continues to improve, it is becoming more apparent that consumers will feel its benefits. The first thing that comes to mind is that the technology will bring significant network efficiencies to operators. This will help them reduce their costs in the production of data and mobile services. Secondly, 5G will enable new services like home video and cloud services to make it possible for consumers to save money.
For example, 5G will allow drones to monitor powerlines. This technology will increase grid uptime, reduce inspection costs, and improve sustainability. A recent partnership between Naturgy and Vodafone aims to bring drone capabilities to all powerlines in its grid by early 2021. This technology could save 6 million tons of carbon per year and help farmers improve crop yields and quality output. It can also reduce costs of agriculture.
It will boost growth in infrastructure.
As India moves toward a 5G-enabled future, building a secure 5G network infrastructure is imperative. The country already has a strong 4G footprint, making the transition to 5G a simple process. To promote a rapid adoption rate and foster innovation, India should establish a continuous 5G trial environment to enable companies and consumers to test the technology. Early adopters will have an advantage as they will gain experience and develop new use cases that will benefit the rest of the country.
In addition to boosting the digital experience, 5G will enable devices and applications to respond much faster. The term latency refers to the time delay between a request and a response. Current mobile technologies have a latency of 65 milliseconds, while fixed broadband typically has between ten to twenty milliseconds. The resulting reduction in latency will make 5G ideal for many mission-critical applications and Internet-of-Things (IoT) applications.