According to Jyotiraditya M Scindia, Union Minister of Communications and Development of North Eastern Region, the digital highway in India is the most advanced following the 5G rollout in 22 months, among the fastest in the world, covering 99 per cent of the country’s districts and 82 per cent of population.
He further stated that India is the second largest market in the world for mobile phones, and the third largest for telecom. And the digital highway in India, the most advanced in the world, is transforming the country, making opportunities ubiquitous, and creating a level playing field, ensuring equity and inclusivity. In addition, within 18 months, India had its own 4G stack, becoming only the fifth country in the world to do so.
He mentioned that India is on its way to become a $5 trillion economy by 2028, and cross $6 trillion by 2030. Compared with the decades of 70s and 80s, where access to capital was the main issue in terms of growth, today, capital has become a commodity. He added, India is poised to overtake Japan and Germany to become the third largest economy by 2027.
In addition, he highlighted that India has achieved monumental changes in the past 10 years. From no unicorns a decade ago to 118 now among 140,000 start-ups, aided by a Rs 100 billion fund of funds that can be leveraged 8-10 times by the start-up ecosystem, India is on its way to transforming into an advanced economy.
As per Scindia, India is experiencing the power of compounding, growing at seven per cent CAGR through the decade, which is the reason why 250 million people in India have been lifted above the poverty line.
