PM Modi claims that 5G technology will bring in USD 450 billion to the Indian economy

Prime Minister Narendra Modi stated on Tuesday that 5G technology will contribute USD 450 billion to the Indian economy and that the country will be able to introduce 6G services by the end of this decade, highlighting the importance of the telecom sector in the country's prosperity.

Prime Minister Narendra Modi said during the Telecom Regulatory Authority of India's (TRAI) silver jubilee celebrations, "5G is expected to contribute USD 450 billion to the Indian economy in the near future. Not only will this increase internet speed, but it will also enhance development and employment."

PM Modi unveiled the 5G Test Bed, which was designed as a multi-institute collaboration effort led by IIT Madras.

"The 5G Test Bed is a significant step toward the country's self-reliance in crucial and advanced telecom technology. The 5G technology will also have a positive impact on the country's governance, as well as the convenience of living and doing business. Agriculture, health, education, infrastructure, and logistics will all benefit as a result of this. This would also result in numerous job possibilities "The Prime Minister stated.

According to him, India's growth in the twenty-first century will be determined by its connectedness. He emphasised the importance of modernising connectivity at all levels.

PM Modi went on to say that today, every village in the country is connected by optical fibre.

"In India, even 100 Gram Panchayats were not connected to optical fibre connectivity prior to 2014. Approximately 2.5 lakh Gram Panchayats now have access to broadband. We have placed a strong emphasis on mobile phone production in the country itself in order to make mobile phones accessible to the poorest of the poor households. As a result, the number of mobile manufacturing units expanded from two to more than 200 "he remarked.

According to Prime Minister Narendra Modi, India is the world's fastest growing country in terms of teledensity and internet users.

The country is now pushing forward with a "whole of government" approach, moving beyond silo thinking. With the Panchamrita of Reach, Reform, Regulate, Respond, and Revolutionize, we have pumped new vigour into the telecom business during the last eight years. TRAI has played a critical part in this.

According to the Prime Minister's Office, the Test Bed project cost more than Rs 220 crore to create. The Test Bed would create a supporting ecosystem for Indian industry and entrepreneurs, allowing them to validate their 5G and next-generation technologies products, prototypes, solutions, and algorithms.

The Telecom Regulatory Authority of India Act, 1997, formed TRAI in 1997.