Blocking Huawei from rolling out 5G may cause $4.7 bn loss to India by 2035

Blocking Huawei from rolling out 5G technology may cause loss of up to $63 billion in the GDP of top eight technology markets, and at least $4.7 billon in case of India, by 2035, a report of Oxford Economics commissioned by the chinese telecom gear maker has claimed.

The US and Australia have blocked Huawei from deploying 5G infrastructure alleging security concerns and several other markets including Canada, France, Germany, Japan and the UK governments have announced they are either considering exclusion or have imposed partial restrictions.

The Chinese telecom firm, however, has been allowed to participate in 5G trials in India and the Indian government has not taken any stand yet to bar the company from building 5G network.