Getting Ready For A Trillion-Dollar Economy
Voice and Data|June,2020
Getting Ready For A Trillion-Dollar Economy
Communication service is key to unlocking the potential of the digital economy. Are the service providers ready with the technology and platform needed to achieve this?
Dr. Raghu Ranganathan

India’s digital economy is on an incredible growth path. As businesses work toward realizing Digital India initiatives, we will see digital applications and tools penetrate every aspect of daily life, transforming business and empowering citizens to realize their full potential. According to a Ministry of Electronics and Information Technology (MeitY) report, the Indian digital economy has the potential to reach USD 1 trillion by the year 2025, driven in part by a mobile-first society with the growing proliferation of smartphones, affordable data tariffs, and mobile broadband.

The cornerstone of this predicted growth is increased digital adoption. For example, as mentioned in the MeitY report, India’s monthly mobile data consumption per user is now more than 54 times of what it was in 2016, while the monthly fixed-line data consumption more than doubled between 2014 and 2018.

It’s no secret that the daily lives of Indians revolve around the mobile phone – for both professional and personal needs. Whether it is WhatsApp, YouTube, Hotstar, popular gaming apps, e-governance services or otherwise today’s consumers are increasingly sophisticated in choosing what content to consume and how. Digital India was implemented to accelerate the rapid shift toward digital services and enable all sectors to increase productivity, save time, reduce costs, and deliver stronger business outcomes. This national plan mandates that businesses and organizations deliver digital services with a ‘cloud by default’ approach. Considering the recent shift toward remote working, the cloud-first strategy is accelerating digital transformation at both public and private enterprises. It is also enabling organizations to better meet the needs of digital consumers.

Communication Service Providers (CSPs) are the key to unlocking a digital economy and delivering forward-looking and exciting end-user experiences across a variety of verticals such as education, agriculture, transportation, and more. It is also important to drive the cloud-first and mobile-first approach that can deliver digital services at scale. So, are the CSPs ready for the trillion-dollar digital economy?

Getting ready for trillion-dollar scale

Ushering in the trillion-dollar digital economy – especially with 5G imminent in India – requires the underlying network infrastructure. To offer the latest digital use cases in a mobile-first market that is increasingly relying on the cloud, networks need faster speeds, higher service availability, and lower latency. As we’re on the cusp of smart cities, Industry 4.0, and many other life-changing innovations, higher speed fixed and mobile broadband technologies are critical to delivering seamless experiences in this next era of innovation.

articleRead

You can read up to 3 premium stories before you subscribe to Magzter GOLD

Log in, if you are already a subscriber

GoldLogo

Get unlimited access to thousands of curated premium stories, newspapers and 5,000+ magazines

READ THE ENTIRE ISSUE

June,2020