Impact of Telecom sector in the context of Indian Economy and Society

India is the world's second-largest telecommunication market. It is astonishing to know, that the subscriber base of the telecom sector in India is massive, it stood at 1,167.81 million. The gross revenue of the telecom sector during the first quarter of FY21 was 66,858 Crore. This figure goes on to reflect the strength, contribution, and impact of the Telecom sector, in regards to India's economy. Does it mean the Indian Telecom sector has reached its zenith? The answer is "No". This sector is still in a position to do more and contribute more in a meaningful way.

It has undoubtedly achieved a lot and provided a great service, but if we can use this medium in a more productive manner by upgrading the services, it can offer a lot more and in that event, we can expect to benefit more. It will contribute more to the Indian economy and will offer services that may very well change the course of our society, as it can bring a huge change and reach out to that class of people who are yet to gain from this sector. The people who are associated with this sector, they know very well, how this sector will become a major force in strengthening India's economy. The business leaders also know, that the potential of this sector has not yet been fully realized in terms of profits for the Indian economy and will bring plenty of benefits to the user as well as the economy if things are synchronized and put to good use by adopting the right strategy.

Let's analyze the impact of the Telecom sector by means of this article.

The world is moving at a great pace. Changes are taking place very quickly. Technical revolution is visible in every field. How can the Telecom sector stays away from it? The Telecom sector has grown in stature by providing fast, reliable and quality services over the span of the last few years in particular. However, we should expect more from the Telecom sector. It has a lot to offer in times ahead.

A lot of people are still using 2G services. It appears that they are living in a previous era. It's not their fault. They are unable to access 3G due to technical glitches or lack of proper network coverage. Everybody wants fast services, but there are still a substantial number of people who are devoid of such services or such services have not yet been made available to them on account of various issues.

Recently, the Chairman of Reliance Industry has stated that 300 million mobile subscribers are still trapped in the 2G era. This is perhaps shocking for a lot of people, but this statement speaks volumes about the need to upgrade technology in such a manner so that every user will be able to receive quality services. Mr Ambani has also opined and backed the idea of the early rollout of 5G services. He is of the view, that urgent policy measures must be taken in order to ensure affordable smartphones for 300 million mobile subscribers who are still relying on 2G services.

Will Reliance Jio's 5G plans prove to be a game-changer in the context of the Indian Telecom Market?

Well, this question must be analyzed on the basis of a few things which will give us the correct picture. As stated above around 300 million subscribers are still dependent on 2G services. When we talk about Telecom services, we must keep in mind such services must cover all class of people because it is no longer a luxury rather it is a necessity. Urgent policy steps are extremely important so, that underprivileged people get access to affordable smartphones which will help them in various ways. For e.g. they can take advantage of direct benefit transfer into their Bank Account and become part of the digital economy. Mr Ambani has highlighted all these points when he delivered a speech at the inaugural session of India Mobile Congress 2020. His observations were very interesting. He has spoken about issues that must be addressed at the earliest.

We must understand, the term development must encompass each and every class of people. Keeping the underprivileged away will not serve the purpose. So, the Telecom sector could be of immense importance in reaching out to this section of people.

Mr. Ambani has made it very clear in his speech, that although India is among the best digitally connected countries however, in order to maintain this lead certain measures needed to be taken including the early rollout of 5G and it must be made available to all. His speech has thrown light on certain key aspects that can be addressed if quality and fast services are made available to people irrespective of their financial position.

"Jio will pioneer the 5G revolution in India in the second half of 2021". It will be powered by indigenously developed network, hardware, and technology components, " Mr Ambani said.

Highlighting the achievement of Jio Platforms, he has stated, that it has built world-class capabilities in artificial intelligence, cloud computing, big data, machine learning, the internet of things, and blockchain.

Not only this Mr Ambani has also said, the company is creating compelling home-grown solutions in education, healthcare, agriculture, infrastructure, financial services, and new commerce. So in short we can see the reach and impact of the Telecom industry when it comes to developing an infrastructure that will provide the necessary impetus to growth initiative.

Mr Ambani has stated further, that these solutions will be offered to other countries as well, once proven in India. These solutions will help to face global challenges. Mr Ambani firmly believes that demand for digital hardware will increase manifolds therefore, India cannot rely on large-scale imports in this area.

“I clearly foresee India becoming a major hub for the state-of-the-art semiconductor industry. When all the stakeholders work together, we can surely ensure that India’s success in hardware will match our success in software,” Mr. Ambani said.

Mr Ambani is not just a businessman, but a visionary as well. His predictions in relation to changes likely to happen in the Telecom world must be given due attention. He wants India to be equally successful in both hardware and software and for this purpose, he feels there should be an exchange of ideas, technology, and other stuff amongst the various stakeholders so, that India's superiority will be long-lasting.

Mr Ambani was very confident that, India will bounce back in the 2021 post-Covid -19 pandemic, and the Indian economy will experience a surge with unprecedented acceleration.

Mr Ambani's speech has covered, a lot of important issues. Indian economy can grow very rapidly if proper policies are introduced and enough backing is extended to Telecom Sector. There is a message for all, let it be policymakers or ordinary people. Telecom has a tremendous reach, we need to tap the potential by formulating the right policies and implementing the same at the optimum level. The Telecom sector could be the game-changer for a country like India. In a short span of time, the Telecom sector has shown immense growth and how it can impact us. It is evident, that it has got plenty more to offer. There is a need to analyze this sector in a systematic manner and ensure that people can reap rich dividends out of it, by getting incredible services.

Conclusion

The government of India has taken a lot of initiative to ensure that the people at the grass-root level gets the benefits of development. Such measures will help to eliminate poverty, illiteracy and will ensure better health care and other necessary facilities, that must be given to people especially the ones who are living under the poverty line. The initiatives of the Government will become more effective if it can be related to the Telecom sector. Of course when we talk about coverage of Telecom in relation to a vast country like India then we have to admit that India has done very well. Now, perhaps the time has come for a country like India, to step up to the plate and accelerates development measures, and in this regard, the Telecom sector can play a pivotal role.

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