New Delhi, March 1, 2023: Broadband India Forum (BIF), an independent policy forum and knowledge-based think-tank organized a Round Table Discussion with Prof. N Yoshino, Adjunct Professor at GRIPS and Professor Emeritus (Economics) at Keio University, and former Dean/CEO of the Asian Development Bank Institute championing G20 goals on “The Spillover Effects of Digital Infrastructure and Financing” to address the challenges of attracting private investment in ICT infrastructure development.
Renowned Economist and proponent of the spillover theory, Professor Yoshino made a keynote presentation at the Round Table Discussion attended by dignitaries like Shri S.K. Mishra, Advisor (Finance), DoT; Shri Sanjeet Singh, Sr Advisor, NITI Aayog and Shri Vivek Narayan, DDG (Data Services), DoT and many other dignitaries from the Industry & Think Tank. Prof Yoshino presented a paper proposing the creation of financing models to address investment gaps in digital infrastructure.
The proposed mechanism would enable joint involvement and participation of the Government and potential private investors in sharing revenues accruing out of the use of Digital Infrastructure. This would be ploughed back for future growth of the sector. Prof Yoshino’s studies highlighted the spill over effects in Japan, where estimates of spillover effects were as high as 66%. A similar study is proposed to be carried out for India.
Outlining his proposed objectives for India, Prof Yoshino said “that the Spill over effects of ICT infrastructure on taxes obtained by the government could result in increase the rate of return by upto 15% for the investors. This innovative proposal can potentially revolutionize the investment landscape in India’s digital infrastructure sector and will make it sustainable going forward.” He also said that it will be interesting to see how policymakers respond to this idea “ Overall, the Round Table Discussion with Prof. Yoshino provided valuable insights into the opportunities and challenges of financing digital infrastructure, and the critical role that private sector participation can play in driving the growth and development of digital infrastructure in a sustainable manner.
Mr. TV Ramachandran, President, BIF, said “As India moves forward with the goal to transform itself to a digitally empowered society and knowledge economy, the need for large investments in all types of digital infrastructure is imperative. Digital Infrastructure needs to increase several fold in next five years to help achieve the goal of trebling GDP to USD 7.5 trillion over the next 5 years.” The Round Table Discussion held today brought together all the key stakeholders from Government, Industry etc. to deliberate on some innovative concepts that shall help provide the Government sufficient impetus to take up the agenda of accelerated growth of digital infrastructure in the country forward in the quest for finding new ways to achieve Broadband for All and Digital Inclusivity.