According to Rajeev Chandrasekhar, the telecom sector's contribution to the country's GDP will be substantial, driven by innovations and various evolved business models.
Rajeev Chandrasekhar, the Minister of State for IT and Electronics, firmly rejected the possibility of a duopoly forming in the telecom sector. He emphasized that the market will continue to have four players, including the state-owned BSNL.
In light of innovations and various evolved business models, it was mentioned that the telecom sector would make a significant contribution to the country's GDP.
Speaking to ICCBizNews, Rajeev Chandrasekhar highlighted the substantial size of the telecom market and the increasing diversity of services offered to Internet users. Considering the growing intensity and complexity of the domestic Internet, especially with the integration of IoT powered by 5G, he confidently asserted that there would be at least four viable operators and ruled out the possibility of having less in the market.
By 2026, the government foresees a surge in Internet users, reaching 1.2 billion from the current 800 million. India is witnessing the world's second-fastest deployment of 5G networks, with over 700 districts already covered. More than 500,000 base stations have been implemented, and preparations for 6G are already underway.
Rajeev Chandrasekhar highlighted four crucial areas that have brought significant changes to the telecom sector during the nine years of the Narendra Modi government. These areas include combating corruption and crony capitalism, bolstering investor confidence, reducing import dependency, and enhancing the quality of telecom services.
Chandrasekhar stated that the 10-year period under UPA in the telecom sector was undoubtedly a lost decade, marred by scams such as the 2G scam and the trunk exchange scam. Even the state-owned BSNL had become a loss-making burden on the public exchequer by 2014.
The minister also emphasized the notable shift in investor sentiment. Previously, foreign investors hesitated due to concerns about crony capitalism and corruption. However, the government's reforms and improved ease of doing business have now instilled a positive outlook among investors, both domestic and international.
"In the Indian techade, the government's reforms and improved ease of doing business have created a stable, growing, and positive investor sentiment. The sector is witnessing rapid investments, contributing to the overall market capitalization and growth of this segment in the digital economy," added the minister.
