How 5G will impact the growth of Indian Economy

How 5G will impact the growth of Indian Economy

Prime Minister Modi, on the 1st of October 2022 launched the 5G telecom services in the country. While this technology will be rendering, high data rate, seamless coverage, low latency, as well a highly reliable communications system, they are also set to play a significant role in achieving the economical goal of making the country a USD 5 trillion economy by 2024-25.

With the unveiling of the 5G technology by the Prime Minister at the Indian Mobile Congress (IMC), 2022, telecom operators have now geared up to render high-speed services from this Diwali which are poised to completely change the consumer experiences.

The 5G journey of India has started with the rollout in thirteen cities, which include cities such as Bangalore, Hyderabad, Gurugram, New Delhi, Chandigarh & Pune amongst others.  5G will enable much better speeds when compared to 4G & low latency that are crucial in an era where AI, Metaverse, IoT & other smart platforms are evolving as essentials for both individuals & enterprises.

According to analysis conducted by GSMA Intelligence, 5G may benefit the Indian Economy by rupees 36.4 trillion between the years 2023 & 2040. This reflects the huge number of 5G use cases that can be implemented in the main industries of the Indian economy. While 5G adoption is growing steadily, it is driven by penetration as well as pricing factors, and the real shift will take place as individuals start shifting from 2G & 3G to 4G. There are over three hundred million users on 2G in the country even in present time.

5G is required for complete digital inclusion

While mobile technology has reduced batteries to several factors such as digital inclusion, service quality, and rural locations, data costs still prove a huge challenge. Upgrading to a 5G network might rise digital inclusion that is valuable in its own right, however it is also a requirement for supporting the mobile delivery of government services that includes health services. These shifts will be benefiting both the consumers as well as business users directly at the same time contribute to productivity & income growth throughout the economy.

How will 5G help in preserving people's way of life away from urban cities

Either you reside in a megacity or a rural community, you are aware of the value and importance in preserving people's way of life & letting them to capture the advantages of the city and not forcing them to move there. The rise in coverage of 5G will do it like never before. For instance, with farming: low-latency 5G networks allow a very few farmers to cultivate grow surplus crops more efficiently for better yields as well as higher profits. Therefore, the farmlands will be studded with sensors which gather data for sending it as feedback to machinery, while farmers will have complete views of all their crops, every time.

5G can facilitate sustainability

A key element of 5G future will be a full realization of the IoT. Millions and millions of sensors in factories, farms, cities as well as farms our homes render us with the foundational elements for innovating & driving the required de-carbonization. For instance, the present rice farming processes accounts up to forty per cent of the global irrigated water & generates methane which constitutes around 1.5 per cent of GHG emissions, globally. These emissions can be decreased by leveraging a technological solution which would be alternate to wetting & drying processes. The solution comprises Internet of Things sensors which monitors when the conditions are right & drive pumps for controlling the water level. If this solution id implemented globally, it could decrease millions of tons of GHG emissions & decrease usage of water in rice farming.

Connecting & Manufacturing cars made easier

5G will not just make connecting cars easier but it will make manufacturing them easier as well. 5G is set to transform manufacturing via secure as well as almost real-time connectivity which will not just lead to transformative productivity, but also speed & efficiency improvements. And the car industry will be the 1st among other industries to reap the benefits.

For instance, Ericsson recently teamed up with Telefonica Germany with an aim to enable 5G car manufacturing through a private 5G network for Mercedes-Benz.

Jörg Burzer, Member of the Divisional Board of Management of Mercedes-Benz Cars, Production and Supply Chain, said: "With the installation of a local 5G network, the networking of all production systems and machines in the Mercedes-Benz Cars factories will become even smarter and more efficient in the future. This opens up completely new production opportunities.”

The road ahead

5G is set to open new avenues for a myriad of industries such as healthcare, education, manufacturing, Research & Development, smart city projects & gaming by integrating with new-age technologies that include Internet of Things, Artificial Intelligence, machine-to-machine learning, big data analytics, drones etc.