BUILDING BLOCKS OF A PROSPEROUS FUTURE

Telecom has a massive opportunity to accelerate digital payments and financial inclusion for the underserved communities across India

- SHIVNATH THUKRAL

The mobile phone has emerged as a critical device that enables Indians to overcome geographical barriers, socio-economic status and to embrace new economic realities. Indians, across all demographics, have leapfrogged to the digital world by embracing mobile technologies, much more than others. The country is in the midst of one of the most dynamic social and economic transformations the world has ever seen, driven by the rapid adoption of digital technologies. The COVID-19 pandemic has accelerated the need to go digital.

Technology is playing a crucial role in scaling solutions and in just the past five years, more than 500 million people in India have gained access to the internet. While this is promising, it also highlights the wide scope of digital opportunities that remain untapped. According to the Telecom Ministry, the country saw its internet dependency increase by 13% during the lockdown. While this was well within the DoT capacity, the government and COAI, made significant efforts to ensure people remained connected at the critical time.

India is at an inflection point, and where we go from here is heavily dependent on the internet accessibility. In this vast and diverse country, only an ecosystem consisting of powerful networks, along with affordability can transform the future of the nation. Today, helmed by Reliance Jio, India is home to the world’s second-largest internet user base, accounting for 12% of all users globally. With the help of affordable data prices, Reliance Jio helped spur the digital economy in India as it propelled internet usage in the country.