India to Promote Cheap Data Rates, 5G Expansion to Attract Global Investments: Report

India is reportedly looking to promote its cheap data tariffs to attract investments from foreign companies that rely on affordable, fast broadband connectivity to deliver essential services. The government aims to leverage the country’s much lower data rates compared to markets such as China, US, Russia, UK, Australia, and South Africa to attract foreign companies providing services such as ride-hailing, online food delivery, telemedicine, digital payments, and online education, ET reported, citing senior government officials.

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Also Read: Airtel Urges Additional Tariff Revisions to Sustain Investments

Rapid 5G Adoption and Accessible Smartphones

According to the report, the government also intends to highlight India’s rapid adoption of 5G services and the growing accessibility of affordable 5G smartphones in the world’s second-largest mobile phone market to attract potential investors.

As per the minutes of a recent telecom sector review meeting, the Prime Minister’s Office (PMO) has asked the Department of Telecommunications (DoT) to work with the external affairs ministry and the Department for Promotion of Industry and Internal Trade (DPIIT) for pitching India’s low data rates as a major attraction point to international investors, the report said.

“It was observed that more needs to be done to leverage India’s low data rates and promote them to global investors,” the report quoted a person familiar with the discussions.

Senior officials reportedly said the telecom department is fast-tracking efforts to position India as a prime investment destination that offers affordable internet access at data rates way below key global markets.

Also Read: Reliance Jio Slows Down 5G Expansion Amid Monetisation Issues: Report

India’s Data Rates Cheapest in World

“We are not merely reaching out to potential investors in the telecom and tech sectors. The objective is to spread the word among the global investor community, across industry verticals that India’s data rates are amongst the lowest in the world, and with a significantly high median mobile broadband speed of 100 Mbps,” a senior DoT official was quoted as saying.