India focusing on creating regulatory framework for 5G: Minister
New Delhi, July 3: A high-level forum set up by the government is focusing on developing a research ecosystem, a regulatory framework and an inclusive business environment for 5G, Communications Minister Manoj Sinha said here on Tuesday.
"India may have missed the 3G and 4G buses, but the country cannot afford to miss the 5G bus. It is of strategic importance to us," the Minister said after inaugurating Ericsson's "Centre of Excellence (CoE) and Innovation Lab" for 5G at the Indian Institute of Technology (IIT) Delhi.
The Ericsson 5G test bed is an open platform and aims to help the industry and the academia to leverage the 5G technology to develop new 5G-based apps and business models.
"The 5G 'Centre of Excellence' supports the government's plans to foster a robust and vibrant 5G ecosystem in the country. We want India to be an active participant in the design, development and manufacturing of 5G-based technologies, products and apps," Sinha noted.
The Minister said that meeting the government's aim of "Sabka Saath, Sabka Vikas" (development of all with involvement of all) requires strong, reliable and affordable digital infrastructure that can be the backbone of digital inclusion.
"Digital inclusion, we believe, will significantly accelerate our inclusive growth and development. It is in this context that 5G is of strategic importance to us," he stated.
For charting a roadmap for the country's transition to 5G, the government has set up a 5G high-level forum consisting of three ministries, industry stakeholders and experts from different organisation, Sinha pointed out.
While discussions have been going on to identify potential use cases for 5G, initial responses indicate that e-health, e-education, disaster management, e-agriculture and Smart Cities are strong candidates to exploit the key features of low latency and high throughput of 5G technology, he said.
Complimenting Ericson for the establishment of the innovation lab at IIT Delhi, Sinha said that "test beds will provide the enabling environment for testing of technology, and its refinement as a precursor to final adoption.
"We need the entire eco-system to work together to make 5G a reality in India over the next 2-3 years."
Addressing the gathering, Borje Ekholm, President and CEO of Ericsson, said the company was leading 5G standardisation globally.
"We would like to unleash the creativity and innovation of the Indian industry, academia and entrepreneurs to fully leverage and make 5G a reality in India," he stressed.
Also present on the occasion were R.S. Sharma, Chairman of the Telecom Regulatory Authority of India (TRAI) and V. Ramgopal Rao, Director, IIT Delhi.
"India is a big player in data consumption. It consumes more data than any country in the world," Sharma said.
Mobile data consumption in India has gone up to about 1.3 billion GB per month which is more than the mobile data consumed in the US and China together, Sinha added.
As per an Ericsson report, 5G-enabled digitisation revenue potential in India will hit $27.3 billion by 2026.
The Indian operators can generate additional revenue of $13 billion if they take up roles beyond being connectivity and infrastructure providers to become service enablers and service creators, the company said.
The largest opportunity will be seen, according to Ericsson, in sectors like manufacturing, energy and utilities followed by public safety and health sectors.
Some of the 5G use cases that could be implemented using the unique features of 5G technology include industrial control and automation, autonomous driving, safety and traffic efficiency services, hospital applications and medical data management among others.
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Rupee rises 10 paise to 92.41/USD; faces risks from rising global tensions
Mumbai (PTI): The rupee appreciated 10 paise to 92.41 against the US dollar in early trade on Friday, even as the USD/INR pair faces risks from rising global tensions, especially the US-Iran conflict.
Forex traders said the rupee is likely to see high volatility intra-day as the deadline for RBI's instructions to banks to curb their overnight positions to USD 100 million closes today.
At the interbank foreign exchange market, the rupee opened at 92.58 against the US dollar, then gained ground to touch 92.41 against the US dollar in initial trade, registering a gain of 10 paise over its previous close.
On Thursday, the rupee settled with a marginal gain of 3 paise at 92.51 against the US dollar.
"An estimated 80–85 per cent of these positions have already been unwound, which means the bulk of this supportive flow is now behind us. In simple terms, the cushion that held the rupee steady is beginning to thin, and this is where the story starts to shift," CR Forex Advisors MD Amit Pabari said.
Pabari further noted that looking ahead, the picture for the rupee appears to be changing. "With most of the NOP-related support now fading and global uncertainties still elevated, the scope for further strength seems limited. USDINR is likely to find a base in the 92.20–92.50 zone, with a gradual move higher towards 93.50–94.00 levels," he said.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was higher by 0.07 per cent at 98.69 as the safe-haven demand has come down after the ceasefire, but as the ceasefire is fragile, the US dollar is getting bids at lower levels.
Brent crude, the global oil benchmark, was trading higher by 0.51 per cent at USD 96.44 per barrel in futures trade, as the ongoing uncertainty over the Strait of Hormuz opening is keeping the oil trade well bid.
Pabari further noted that just as domestic support begins to fade, the global backdrop is turning uneasy again. "The World Bank has flagged that India's growth for FY27, expected at 6.6 per cent, faces risks from rising global tensions, especially the Iran conflict," he said.
According to Pabari, India continues to have strong buffers in the form of forex reserves and a stable banking system, but pressure points are slowly beginning to build.
On the domestic equity market front, the stock markets witnessed a rebound in early trade. The 30-share Sensex jumped 630.08 points to 77,261.73, while the Nifty climbed 203.6 points to 23,978.70.
Foreign Institutional Investors offloaded equities worth Rs 1,711.19 crore on Thursday, according to exchange data.
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