Telecom Equipment Makers Have Committed over Rs 4,000 Crore Investments in Mobile Congress: Manoj Sinha
Manoj Sinha said discussions and announcements at India Mobile Congress show that India is ready for the emerging 5G services. The 5G technology would facilitate machine-to-machine communication and has multiple usages.
File photo of Telecom Minister Manoj Sinha. (PTI Photo)
New Delhi: Telecom gear makers have committed to invest over Rs 4,000 crore at the India Mobile Congress, Communications Minister Manoj Sinha said on Saturday.
"We were expecting investment of Rs 2,000 crore but companies have committed investment of over Rs 4,000 crore during our discussions at India Mobile Congress (IMC)," Sinha told reporters.
The minister said major investment commitment has come from Ericsson, Samsung, Sterlite Tech, Cisco, Nokia and Intel.
"The National Digital Communications Policy has just been announced and these are the first set of investments flowing in," Sinha said.
He said discussions and announcements at IMC show that India is ready for the emerging 5G services. The 5G technology would facilitate machine-to-machine communication and has multiple usages.
"The investments will be made over a period of next one-two years," Telecom Secretary Aruna Sundararajan said.
Talking about IMC, Sinha said this will become an annual event.
"Estimates that have been shared with me so far is that in area of 50 square feet, 5,000 delegates from 20 countries, more than 300 companies participated in it and 50,000 visitors came here. I feel when this baby becomes three years old, the number of visitors will reach 1 lakh," Sinha said.
Sundararajan said IMC has generated more enthusiasm around 5G and the government has already committed to be at par with the world in launching this next generation services.
"We have already demonstrated government intent that India does not miss the 5G bus. We have already started to take initial set of action to make an enabling environment. We expect actual allocations of spectrum (for 5G services) to begin in the second half of next year," Sundararajan said.
Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.
Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.
|Power Grid Corp||207.05||-1.94|
Recommended For You
- Having Multiple Husbands May Be a 'Wise Strategy' For Women, Claims Study
- Are Your Cable TV And DTH Subscriptions Set to Become More Affordable?
- How Dare Someone Constantly Make Us Soft Targets: Karan Johar Reacts Angrily to Drug Party Claims
- Reebok CrossFit Nano 9.0 Review: Slickest Evolution of Versatile Fitness Shoes
- Instead of Putting Unsold Stuff in a Garbage Dump, Amazon Will Donate it Instead