FM talks India’s 5G technology to revive economy at Johns Hopkins University

FM Sitharaman was interacting with the students of Johns Hopkins School of Advanced International Studies. Observing digitization has become the biggest advantage in India in the last two years, the Finance Minister further said that India’s public goods are available to countries that need them.

“The revival of the economy is on a continuous path,” the Finance Minister said.

Here are 10 key points from Finance Minister Nirmala Sitharaman’s conversation at Johns Hopkins University:

1. The Finance Minister said that the 5G technology in India is completely indigenous, which is not imported from anywhere else and is the country’s own product. “The story has not yet reached the masses. The 5G we have launched in our country is completely indigenous, standalone. Some important parts may come from countries like Korea, but certainly not from anyone else.. .,” Sitharaman said. ,

2. He further said that India can now provide 5G technology to other countries whoever wants it. “Our 5G is not imported from anywhere else and is our own product. It spreads very fast.” Sitharaman said that the private companies that have made this product have said that by the end of 2024, most of the people of the country will be able to take advantage of this technology. “We can be extremely proud of India’s achievement on 5G.”

3. He further said that promoting digitization between 2014 and 2019 helped in fighting the economic crisis during and after COVID-19. “The push that happened between 14 and 19 has really helped us. And helped us in so many incredible ways. We were able to provide immediate relief during the long lockdown even as we all could stay in Delhi and press a button that money went into the account,” she said.

4. He also said that there were apprehensions in India after PM Modi started digitization of the economy but the initial hurdles of the people were removed with the help of digital technology. “There were apprehensions in India after 2014 when we began to ramp up the potential for digitization of the economy.” Questions were raised “Will this technology make a difference in India? Will people be ready to use it?” Sitharaman even said that questions were asked whether investment in technology would bear fruit and whether people would accept it.

5. Out of India’s 7.5 lakh panchayats, the minister said 80 per cent of them have received optical fibers for their cause. Elaborating on the vision of the Modi government, he said that good governance is being achieved in India by the use of technology and there has been a definite transformation due to increasing the potential of digitization of the economy.

6. He said that India is setting global benchmarks on the digital front and there is a sense of confidence in the country that it will be able to face geopolitical and economic uncertainties and still perform. The finance minister explained that the Indian economy is doing well largely because confidence in what has happened in the last two years has been “pleasantly felt.” He said the Indian economy is on a steady path of revival and will remain resilient to face a possible global slowdown. “Due to the global slowdown, if my demand is falling, exports will suffer and my Indian rupee will suffer because of a stronger dollar—it’s all taken on board—there is a sense of confidence in India, we Will pass and we will still be able to perform.”

7. Sitharaman said that the open-source network created by the Government of India for the public good is helping small and medium industries to scale up their operations. “Standing here, I want to reiterate that India’s public goods are available to countries that need them,” Sitharaman said.

8. Reiterating that Indian public goods are available in other countries, he said that for example, during the COVID-19 pandemic India created an app where one can find the nearest hospital that can give them vaccinations to shops Is. And that platform will record it and immediately give them a certificate in the phone itself saying that you have taken this first dose in this first hospital, he said, describing the app’s other features. And as a result, Indians traveling abroad were not required to carry paper for proof of their vaccination.

9. He also said that out of all the loans given under the ‘Mudra’ scheme, 45 percent have been given to women.

10. There were times when India was the global benchmark that India looked up to… but (now) on the digital front, be it payments, health, education, India has really set the benchmark.