India Poised To Play Key Role In Global Economy, Future Of Tech, Innovation: Verizon Business

CIOReviewIndia Team | Monday, 16 November 2020, 14:01 IST

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Being one of the fastest-growing tech and telecom markets, India is playing a major role in the global economy and the future of technology and innovation, said by a senior official of Verizon Business Group, Robert Le Busque, Managing Director, Asia Pacific (APAC), Verizon Business Group. He also said, that the rising middle class, “It’s an untouched talent pool”, which is committed to research and development, and innovation has given India as one of the world’s strongest digital economies.”

Verizon Business Group provides IT, communications, security and network solutions to enterprises and governments in the world, is bullish about India’s 5G prospects, which gives the transformational nature of the next-gen technology.

Busque, said, “India has one of the fastest growing technology and telecom markets in the world and Verizon strongly believes that India has a key role to play in the global economy and future of technology and innovation."

Busque said that on the 5G landscape, it is truly transformational for the country. He added, “Imagine what India's factories, manufacturing floors, airports, train stations, media and entertainment industries can achieve when 5G becomes ubiquitous," when stating about the next-gen technology impact on economy and business.

Busque added, “It's a private 5G network within a facility that will bring data transit speed to many times less than the blink of an eye - eventually less than 10 milliseconds end-to-end response time. The possibilities are truly endless, which is why many countries are going all out to deploy this technology.”

During the previous month, in October, Verizon Business announced the launch of an international private 5G platform for global enterprises which is located in Europe and the Asia-Pacific region.

It would be delivered in partnership with Nokia, Busque stated. He also added about the offering as it would enable Indian business in deploying a private industrial grade dedicated platform 5G network capability within their premises.

Busque said, “In tandem, our existing portfolio of products around our managed network services, security and advanced communications (BlueJeans) all complement 5G - both public and private."

While there is no 5G services at present in India, as the government is yet to allocate spectrum to telecom operators for running field trials.

Telecom service providers and the industry are watching the space with avid interest, where the endless possibilities are there in 5G offerings, according to a recent report by Motilal Oswal, Financial Services, having pegged investments in key components of 5G network on mid or low-band spectrum with pan-India coverage of around Rs. 1.3 to 2.3 crore.

Busque said, "We're always looking at mutually beneficial partnerships which we feel can add value to our customers and vice versa. We have a number of partnerships in India, for example with Bharti Airtel."

Verizon is operating with three business units in India and Verizon Business Group offers a suite of managed network and security services amalgamated with advanced communications. There is an internet services provider license, international and national long-distance licenses and a virtual network operator license.

Verizon Media Group, also working with global publishers and advertisers of online platforms, plays a critical role in both the development of next-gen technologies and the day-to-day operations of business, where it is located in Chennai, Bengaluru and Hyderabad.

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