PM Modi : 5G technology will contribute $450 billion to Indian economy

Prime Minister Narendra Modi on Tuesday said that 5G technology will contribute USD 450 billion to the Indian economy. Addressing the Silver Jubilee celebrations of the Telecom Regulatory Authority of India (TRAI), Prime Minister Modi said, "It is estimated that 5G will contribute USD 450 billion to the Indian economy in the times to come. It will not only accelerate the speed of internet but also promote growth and employment.

PM Modi also launched the 5G test beds designed in collaboration with a total of eight institutes led by IIT Madras. He said, "I have got the opportunity to dedicate my self-made 5G testbed to the nation. This is also an important step towards self-reliance of critical and modern technology in the telecom sector."

According to the Prime Minister's Office, the test bed project has been developed at a cost of over Rs 220 crore. The test bed will create a supportive ecosystem for Indian industry and startups, which will help them validate their products, prototypes, solutions and algorithms in 5G and next generation technologies.

PM Modi said, "Our telecom sector is a great example of how self-reliance and healthy competition creates a multiplier effect in the society, in the economy. Out of the despair, frustration, corruption, policy paralysis of the 2G era, the country has moved from 3G to 4G. And now we have made rapid strides towards 5G and 6G.