Faster deployment of 5G network key to India's economic recovery
Rolling out of 5G network is likely to revolutionise many economies across the world. Especially, emerging countries like India will immensely benefit from the rolling out of this super speed network.
Rolling out of 5G network is likely to revolutionise many economies across the world. Especially, emerging countries like India will immensely benefit from the rolling out of this super speed network. Given the projections of spectrum auction and preparedness of telecom companies, 5G should go live by the second quarter of 2022. Sensing the opportunity globally, Indian IT services companies have been building up capacities to cash in from emerging business models. And many of them are planning to use their campuses as test beds for showcasing their prowess to clients. For instance, market leader Tata Consultancy Services is planning to build private 5G networks in its campuses.
As the company is preparing to bring back a majority of its employees to offices soon, these networks will be fully tested in its campuses for gauging its efficacy. Similarly, engineering services company L&T Technology Services (LTTS) has already established a 5G lab in Bengaluru and is planning to launch another one in Mysuru. Tech Mahindra, which has a good practice of telecom vertical, is also planning to launch a 5G lab. It already has a 5G test bed with Rakuten in Tokyo. Similarly, technology major Infosys has 5G Living Labs in Bengaluru and Melbourne. Not only these companies, but all IT firms in the large and mid-tier space are working aggressively to bag maximum clients in the 5G space.
Interestingly, rolling out of 5G is likely to create many use cases across industries. Segments autonomous car, smart cities, health services delivery, sporting broadcast, drone technology, immersive entertainment, smart factories, green technology, edtech services and agritech services are likely to immensely benefit from the deployment of 5G. According to global market intelligence firm HIS Markit, the 5G value chain is likely to generate $3.8 trillion in gross output globally and 22.8 million new jobs by 2035. In India, the economic impact of 5G is projected to hit $1 trillion by 2035. 5G will unlock new economic opportunities and societal benefits. It can help India realise the 'Digital India' vision by leveraging the 5G technology. Also, Indian startup ecosystem to further prosper after deployment of 5G. Currently, majority of startups are technology-driven which leverage various digital technologies to attract new customers. 5G will make the process easier and faster. Apart from supporting the existing startup ecosystem, this new technology will also give rise to new startups revolving around this technology.
As India recovers from Covid pandemic blues, it is desirable that India should expedite the process of rolling out 5G network, which can create spectacular wealth in the coming years. This wealth creation will lead to higher buying power, pushing up the economic activities. In past instances, telecom spectrum auction process had not only seen controversies, a lot of consolidation has also happened in recent years. The government should make the process transparent to provide all players a level playing field. Many geographies have already rolled out 5G network and started to see its benefits. India should join the bandwagon to provide the much needed fillip to sectors at this critical juncture.