Indian operators are banking on FWA to make 5G tech monetized, but the most effort on FWA is being played by Jio. The next monetizing factor could be deployment of private 5G networks. First trial of private 5G network was done by Airtel, back in July 2022, at Bosch Automotive Electronics India Pvt Ltd's facility in Bengaluru using trial 5G spectrum allocated by the Department of Telecom (DoT).
But private 5G network is not getting much demand from the enterprises, as many want to deploy bypassing the present telecom operators - as the companies want their own spectrum and will bring their own technology partner to deploy private 5G. Even if the business sector starts working with the telcos, the spectrum will be another issue.