According to a recent analysis by India’s National Association of Software and Services Companies (NASSCOM) and Arthur D. Little, 5G telecom networks are predicted to account for close to 2% of India’s GDP by 2030.
According to the estimate, by 2030 the 5G industry will bring in close to $180 billion in income.
“By 2030, India will have more than 500 million 5G subscribers, which has the potential to alter the country’s economy. According to Barnik Chitran Maitra, managing partner of Arthur D. Little India and South Asia, “5G can have an impact of over $180 billion on India’s economy in 2030. Public and private 5G networks are facilitating use cases all over various areas, such as mobility, healthcare, manufacturing, retail, energy, and utilities.
The paper claims that 5G is anticipated to generate new value through “hyperconnectivity” and serve as a catalyst for the digital transformation of many Indian businesses. Healthcare, energy & utilities, manufacturing, and retail are among the industries that are anticipated to gain the most from the widespread deployment of 5G technology.
According to Debjani Ghosh, president of NASSCOM, “5G for India gives a chance for companies to enhance the pace of digitization at the grassroots level and for consumers to gain through economies of scale.”
To enhance consumer uptake and market preparedness to realise the full potential of 5G, Ghosh continued, “doing this would require effective ecosystem coordination between telcos, OEMs (original equipment manufacturers), infrastructure businesses, and the Government.”
Reliance Jio and Bharti Airtel, two Indian telecommunications companies, have begun to gradually roll out 5G infrastructure across the nation.
Vodafone Idea is actively in discussions with several suppliers for the delivery of 5G equipment. The telco is also looking for funding sources to start up its 5G network.
According to recent press reports, Indian state-owned telecom operator Bharat Sanchar Nigam Limited (BSNL) may roll out 5G services by August of next year.