→The displacement current has some far reaching consequences.
→One key thing that can be noticed is that the laws of electricity and magnetism now seem (and can be represented) more symmetrical, though they are not perfectly symmetrical.
→Because the source of electric field are electric charges, which exist independently. Electric Mono poles (either positive or negative) exist independently. Unlike electric monopoles, magnetic mono poles do not exist. The source of Magnetic field are magnetic poles (North-N or South-S), but independent North pole or South pole doesn't exist.
→Faraday's law of induction states that there is an induced emf equal to the rate of change of magnetic flux. Now, since the emf between two points 1 and 2 is the work done per unit charge in taking it from 1 to 2, the existence of emf implies the existence of electric field.
→So, we can rephrase Faraday's law of electromagnetic induction by saying that, 'A magnetic field, changing with time, gives rise to an electric field. Then the fact that an electric field changing with time gives rise to a magnetic field, is the symmetrical counter part, and is a consequence of the displacement current being a source of magnetic field. Thus, time-dependent electric and magnetic fields give rise to each other.
→Faraday's law of electromagnetic induction and Ampere-Maxwell law give a quantitative expression of this statement.
→One very important consequence of this symmetry is the existence of electro magnetic waves.