India Takes the Lead in Telecom Advancements, Sunil Mittal's Insights
Sunil Mittal Predicts India's Journey to a $5-Trillion Economy by 2027
28 May 2023
Sunil Mittal, Chairman of Bharti Enterprises, believes India can achieve its goal of becoming a $ 5 trillion economy by 2027, thanks to decisive leadership and significant economic progress.
India is considered the most advanced country in terms of telecommunications, with rapid shifts from deep shortages to widespread smartphone usage and the fastest 5G rollout globally.
The telecom sector's transformative power has enabled connectivity, e-commerce, and online banking, and will further drive innovation with the upcoming rollout of advanced technologies like drone management.
India's ambitious goal of becoming a $ 5 trillion economy by 2027 is within reach, according to Sunil Mittal, the founder and Chairman of Bharti Enterprises. Speaking at a conclave on the nine-year tenure of the Narendra Modi government, Mittal emphasized the importance of decisive leadership in driving business growth. With a government that enjoys a full majority and a globally recognized leader at the helm, India has already witnessed significant economic progress, adding $1.4 trillion to reach $3.5 trillion. Mittal's optimism suggests that the audacious target of $5 trillion, once considered challenging, is now clearly on the horizon.
Mittal, who has personally witnessed the transformation of the past five years, asserts that India is the world's most advanced country in terms of telecommunications. He reflects on his generation's experience of enduring deep and prolonged shortages of telecom infrastructure and connectivity. Today, however, even the deepest and remotest corners of the country have access to smartphones. India has undergone rapid technological shifts, currently leading the world in the rollout of 5G. By March 2024, the entire country is expected to have 5G connectivity, a remarkable feat.
Within a mere eight months of its launch, India has successfully established 200,000 5G base stations. Mittal points out that even in remote areas, people now enjoy mobile phone connectivity, radio access, and Direct-to-Home (DTH) television services. This remarkable progress is a testament to the power of technology, which the government has harnessed to implement reforms and bring about widespread benefits. Mittal takes pride in being part of an industry that serves as a crucial catalyst for economic growth. Telecom services alone contribute 1-1.5% of additional GDP growth for the country.
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The transformative influence of telecom services extends far beyond connectivity. Mittal highlights the pivotal role they play in enabling e-commerce, and online banking, and facilitating secure payment remittances in rural areas. Moreover, with the impending nationwide rollout of 5G, India is poised to embrace a host of advanced technologies. Drone management and other cutting-edge services will soon become a reality, opening up new avenues for innovation, economic growth, and improved quality of life for its citizens.
India's journey toward becoming a $ 5 trillion economy is a remarkable tale of progress and resilience. Mittal's remarks emphasize the importance of strong leadership, technological advancements, and the ability to adapt to changing times. With an optimistic outlook and a clear vision, the Indian government, under Prime Minister Narendra Modi, has spearheaded the country's economic growth and transformed it into a global powerhouse. The achievements in the telecom sector serve as a shining example of India's commitment to harnessing technology for the betterment of its people.
As India continues to march toward its ambitious economic target, it is crucial to recognize the pivotal role that the telecom sector has played in this journey. The transformative power of connectivity has opened up new opportunities, bridging the digital divide and empowering citizens across the nation. As India embraces 5G and other advanced technologies, the path to a $ 5 trillion economy becomes even more tangible. With strong leadership, a thriving telecom industry, and a population eager to embrace technological advancements, India is well-positioned to realize its economic aspirations and usher in a new era of prosperity.