5G to be major contributor to India's GDP by 2040, chip making to take off

The report noted that over 20 Indian companies have already applied to secure 5G spectrum for private networks in the country

The contribution of 5G services to India’s gross domestic product (GDP) could reach up to $450 billion by 2040, Deloitte’s Technology, Media, and Telecommunications (TMT) Predictions report for 2023 revealed. The report said cross-sector contributions from productivity and efficiency gains across industries, will cumulate in a major jump in GDP contributions.

Speaking at a press briefing, Peeyush Vaish, partner & telecom sector leader, Deloitte India, said the “real uplift in the revenues will be visible only when the private networks are rolled out. We expect $10 billion to be spent over the next 3-4 years in terms of rolling out