In India and elsewhere, mobile phones have become an intrinsic part of most people’s lives, connecting them to the rest of the world. A study themed, ‘Mobile Technologies – The Digital Fabric of our Lives’, reveals how these small devices are economic heavyweights that positively influence social development. This study was conducted by the Cologne Institute for Economic Research (IER Cologne) on behalf of the Vodafone Institute for Society and Communications. The findings of the study further reveals that India’s per capita GDP will grow by US$51 per year between 2010 and 2020 due to rising mobile phone subscriptions.
Over time, the report states that mobile subscriptions’ contribution to India’s GDP per capita growth will be 11.4% (2010-2012), 4.9% (2012-2015) and 2.1% (2015-2020). Mobile devices contribute to economic growth due to their increased use, which has risen sharply.
Worldwide, mobile phones are speeding up social development process, which was verified by using econometric methods. The figures show that mobile technology isn’t just driving economic growth, but also social progress. Mobile phones are more than just communication tools. They give people the opportunity to participate in economic and social processes, said Dr Mark Speich, Managing Director, Vodafone Institute for Society and Communications.
The study further revealed that mobile technology has an even stronger impact on economic systems in developing nations. In these countries, for the first time ever mobile phones allow people the opportunity to communicate and do business across long distances.
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