India Will Be the Cheapest 5G Market, Says Bill Gates Two years ago, the tech pioneer Bill Gates had reportedly applauded India for its policies on financial inclusion and innovation

By Teena Jose

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Billionaire philanthropist Bill Gates on Wednesday praised India that the country has a great digital network, reliable and low-cost connectivity with high levels of smartphone usage and added that this will be the cheapest 5G market, according to a PTI report.

Under the G20 presidency of India, a session on 'Building resilient and inclusive economies- the Promise of Digital Public Infrastructure' was held on Wednesday in New Delhi, where the Microsoft co-founder spoke of India's digital identity Aadhaar, its payment infrastructure, and rapid strides that the country has taken in bringing more people into formal banking system.

"India in particular, by laying the groundwork for digital public infrastructure starting with an identity system, allows people to build on top of that. And to make financial access and financial payment an element of that in a trusted way allows for an incredible variety of applications. We are just at the beginning of this. We are seeing incredible ingenuity about using this, and it is in many different sectors," said Gates while addressing the event.

As per Gates' words, it is an exciting year to showcase India's innovations in digital public infrastructure and in other areas. "As I said the Indian system is more ambitious in its breath, the digital vision from the beginning included areas like helping the government with its tasks, or enabling exchange of educational materials," Gates further noted.

As per earlier reports, two years ago, tech pioneer Bill Gates had applauded India for its policies on financial inclusion and innovation. He had praised India's platforms like the Unified Payments Interface (UPI) and the Aadhaar, which he said have drastically reduced the cost of money distribution among the poor.

On March 1st, Gates visited the RBI headquarters and he had remarked that India as a whole gives him hope for the future.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.

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