Indian PM says 5G to contribute 450 bln USD to economy in next 15 years

Indian Prime Minister Narendra Modi on Tuesday called for a rapid rollout of 5G services, saying it will contribute 450 billion U.S. dollars to the Indian economy in the next 15 years.

"It's estimated that in the coming decade and a half, 5G will contribute 450 billion U.S. dollars to the Indian economy," Modi said while speaking at the silver jubilee celebrations of the Telecom Regulatory Authority of India (TRAI).

"It will not only increase the speed of the internet but will accelerate the pace of development and employment generation. Therefore, for the speedy rollout of 5G services, there is a need for collaborative efforts from government and industry."

Modi said the country should be ready to launch the 6G service by the end of the decade and a task force has been formed for its rollout.

"Our efforts are that in the telecom sector and 5G technology, our startups should be fully prepared and emerge as global champions," he said.

Modi said connectivity will determine the pace of progress in the 21st century India.

"Therefore, connectivity has to be modernized at every level," he said. "5G technology is also going to bring positive changes in the governance of the country, ease of living and ease of doing business. This will boost growth in every sector like agriculture, health, education, infrastructure and logistics."