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$100 bn investment in telecom to add $1.2 tn to India’s GDP: Report

$100 bn investment in telecom to add $1.2 tn to India's GDP: Report

New Delhi, Dec 6 (IANS) The investment of $100 billion in the Indian telecom industry as envisioned in the National Digital Communications Policy 2018 (NDCP) would result in an increase of $1.21 trillion in India's Gross Domestic Product (GDP) on a cumulative basis, a report said here on Thursday.

Currently, India is a $2.5 trillion economy. The joint report by Indian Council for Research on International Economic Relations and Broadband India Forum also said that a 10 per cent hike in investment in the country's telecom sector may lead to an increase of 3.3 per cent in the country's GDP on an average.

"The multiplier effect of investment in communications implies that the $100 billion investment envisioned in the new policy could cumulatively add $1.21 trillion (Rs 78,90,711 crore) to the GDP over the duration of the proposed investment," the report said.

 

"These are significant impacts and yet could be underestimated given that penetration of internet is still below international levels," it added.

Speaking at the launch of the report, Aruna Sundararajan, Secretary, Department of Telecommunications stated: "While the first wave of mobile revolution heralded a new age of growth and dynamism to the economy, the second wave is now being led by the growth of internet subscribers and investments in telecommunication infrastructure, leading to exponential benefits to the economic and GDP growth."

It is critical therefore for states across India to leverage it to ensure greater direct and spill-over benefits, she added.

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$100 bn investment in telecom to add $1.2 tn to India's GDP: Report

About Gopi Adusumilli

Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc. He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources. When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any. He can be reached at gopi@socialnews.xyz

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