5G will bring investment of US$ 450 billion in Indian economy by 2040: Telecom Minister Scindia

Union Communications Minister Jyotiraditya Scindia on Monday said that 5G technology is expected to bring about US $ 450 billion to the Indian economy by 2040.

The minister highlighted this during his/her address at the Global Standards Seminar at Bharat Mandapam in New Delhi, one of the world’s largest telecom events.

“For example, in India alone, 5G is estimated to contribute an astonishing $450 billion to the economy by 2040,” he/she said.

The minister emphasized that 5G is not just about faster internet or low latency, but laying the foundation for smart cities, advanced infrastructure and autonomous innovations.

Scindia further said that 5G has already been rolled out in all 36 states and union territories, covering 98 percent of the districts and 80 percent of the population in just 22 months. he/she said this achievement reflects not only India’s technological prowess but also the transformative power of standardized innovation.

“We are opening new doors of possibilities in health care, education and agriculture and manufacturing,” he/she said.

The Minister stressed the importance of international cooperation in unlocking the full potential of technologies such as 5G, Artificial Intelligence (AI) and Internet of Things (IoT).

he/she said global standards are important in ensuring that these technologies work harmoniously across borders.

“The importance of dialogue cannot be overstated. The miracle of 5G, the genius of artificial intelligence, and the interconnected miracle of the Internet of Things. Things are changing industries, societies and manufacturing processes and economies globally,” he/she said.

Scindia also stressed the need for strong governance in emerging technologies such as AI and IoT, stressing on the importance of ethical considerations and regulatory framework to address concerns related to privacy, bias and transparency.

he/she called for a comprehensive policy framework to ensure that future innovations, such as the upcoming 6G technology, benefit everyone equally and do not deepen the existing digital divide.

“We stand today at the edge of a new technological era, the beginning of the 6th generation of mobile networks 6G and it is the gateway to the future where communication will become limitless where innovation will have no limits and humanity will become interconnected. The cornerstone of our shared global destiny,” he/she said.

Scindia urged the global community to work together to set standards and foster partnerships that will define the future technological landscape, ensuring that technology acts as a force for good.