India to invest $13 billion in optical fiber grid, Vaishnaw

India plans to invest an additional $13 billion in establishing an optical fibre grid across the nation to boost connectivity and provide affordable internet to all, Minister of Electronics and Information Technology Ashwini Vaishnaw told CNBC-TV18. The government has already invested $8.3 billion in this project bringing the total to well over Rs 1 lakh crores.

In a recent address, Vaishnaw also expressed his concerns regarding the dominance of a few big tech companies and emphasised the need for an alternative model to ensure the democratisation of technology and equal access for all. To counter this, the government is actively working on initiatives and developing indigenous core technologies, he said.

Speaking to CNBC-TV18 on the sidelines of the ongoing G20 Conference on Crime and Security in the Age of NFTs, AI, and Metaverse, Vaishnaw said that tech has been “cornered” by a few big tech companies, which is not the right model for evolving society. An alternative is needed to democratise access to technology, he added.

“We are worried about a monopoly of tech companies and the power of few big tech companies,” Vaishnaw said.

In order to avoid this situation, the Indian government is working to develop core technologies for various platforms like UPI, the Unified Payments Interface, and Cowin, Vaishnaw said.

By developing indigenous core technologies, the government aims to reduce reliance on external sources and foster innovation within the country.

One of the success stories mentioned by the minister was the growth of the UPI platform. Ashwini Vaishnaw revealed that the annualised quantum of transactions through UPI has reached an impressive $2 trillion.

Acknowledging the importance of connectivity, Vaishnaw spoke on the government’s investments in expanding the reach of 4G networks across the nation. A staggering $4.8 billion has been allocated to “saturate the country with 4G coverage,” enabling more citizens to access the benefits of high-speed internet connectivity. CNBCTV18