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$100 bn investment in telecom to add $1.2 tn to India's GDP: Report
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SME Times News Bureau | 06 Dec, 2018
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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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 10 Dec, 2018 |
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