Gandhinagar: An indigenous-developed 5G and 4G telecoms technology stack will be deployed in the country this year, with the platform available to the world from next year, the coalition’s telecoms minister Ashwini Vaishnaw said on Monday.
Speaking at The Business 20 (B20), the G20’s official dialogue forum with the global business community, Vaishnaw said that while only five countries in the world have an end-to-end 4G-5G telecom technology stack, said it now has a public-private partnership. , India has developed proprietary technology that has been tested to handle 10 million simultaneous calls.
“Our public-private partnership approach has resulted in a solution where the core is developed and invested by the public sector and public money, and everything else there comes from private partners. , and we plan to roll it out. We plan to have about 50,000 to 70,000 towers, sites, and in 2024 it will be available to the world,” Vaishnaw said.
The Minister also made four broad recommendations for economic management, the digital economy, regulation of the digital economy and the development of new technologies that India has adopted under the leadership of Prime Minister Narendra Modi to solve some of its most pressing problems. approach in detail.
On the Covid-19 pandemic and its impact, Mr Vaishnaw said over the past two years the world has been going through a period of great upheaval, unprecedented in more than a century, but the reaction in many regions. was textbook.
He said that when the pandemic hit, the whole world kind of came to a standstill, the economy went to a terrible halt, and the classic response in many economies is to give them a classic fiscal stimulus.
“It was hoped that consumption would pick up, which would lead to a recovery in the economy, but at the same time, a combination of fiscal and monetary stimulus would push the balance sheets of the Fed, the European Central Bank, the Bank of Japan, and many banks down. collapsed.The balance sheets of the larger, wealthier economies grew tremendously, which led to unprecedented inflation, globally unheard of,” Weischnau said.
The minister said India’s prime minister took a very consumption-focused approach, as opposed to a fiscal stimulus-led approach, with most of the fiscal space allocated for investment.
“We’ve traditionally had run rates of inflation somewhere between 4.5 and 7 percent. Very good moderate inflation.. So producing strong growth along with moderate inflation is the result of this change in approach.
He said that for digitization, the prime minister took a different approach with India building a system. Examples will be given all over the world,” Weishnau said.
He said the government has taken the approach of using public funds to create public-private partnerships to create specific platforms. The minister said the model was initially used to create a payment system platform in which banks would participate, then insurance companies, e-commerce, start-ups and people.
“In December, on an annualized basis, digital payment transactions in India will hit $1.5 trillion. .
He said the prime minister is taking the approach of using public funds to create a robust platform and allowing everyone to participate in it.
“This reduces concentration and reduces monopoly. It democratizes the whole digital advantage. It’s a very inclusive approach. approach,” says Weishnau.
Business 20 (B20) is the official G20 dialogue forum with the global business community. It is one of the G20’s most prominent engagement groups, with companies and business organizations participating.