India will be able to become USD 5-trillion economy by 2027, Bharti Enterprises founder and Chairman Sunil Mittal said on Saturday.
While speaking at a conclave on 9 years of the Narendra Modi government, Mittal said businesses in general require a very decisive leadership and India after a long time not only has government with full majority but also a leader who is recognised as a global leader.
"This country has clearly moved to a additional USD 1.4 trillion taking us to USD 3.5 trillion and I think the audacious target of USD 5 trillion, which couple of years ago would have looked a difficult one to accomplish, is now clearly in sight and I think by 2027 we should be able to achieve it," Mittal said.
He said that he personally experienced the change in last five years.
Mittal said that India, according to him, is the most advanced country in the world as far as telecom is concerned.
"My generation grew up in the age of very deep and long shortages of telecom and connectivity to a point today where the deepest and remotest part of the country is using smartphones.
"We moved very quickly from technology shifts. India now has the fastest 5G roll-out in the world. By 2024 March India will have 5G connectivity across the country," Mittal said.
India has set up 2 lakh base stations for 5G services within eight months of the launch of the service.
Mittal said that even in remote areas people see mobile phone, radio connection and a DTH television connection.
"This to my mind is the power of technology which this government has used to its utmost power to usher in reforms and benefits for the masses. I am very proud that we are part of the industry which is a great enabler for economic growth. Today telecom services give 1-1.5 per cent additional GDP growth to this country," Mittal said.
He said that telecom services enabled e-commerce, online banking, remittance of payments in rural areas, healthcare and now with the help of 5G there will be roll-out of many services such as drone management and other advanced technologies.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!