India is currently the world’s second-largest telecommunications market with a subscriber base of 1.19 billion and has registered strong growth in the past decade and half. The Indian mobile economy is growing rapidly and will contribute substantially to India’s Gross Domestic Product (GDP), according to report prepared by GSM Association (GSMA) in collaboration with the Boston Consulting Group (BCG). The country is the fourth largest App economy in the world.
India’s smart-phone market grew 14 per cent year-on-year to a total of 124 million shipments in 2017.
The mobile industry is expected to create a total economic value of Rs 14 trillion (US$ 217.37 billion) by the year 2020. It would generate around 3 million direct job opportunities and 2 million indirect jobs during this period.
Rise in mobile-phone penetration and decline in data costs will add 500 million new internet users in India over the next five years, creating opportunities for new businesses. The monthly data usage per smart-phone in India is expected to increase from 3.9 GB in 2017 to 18 GB by 2023.
According to a report by leading research firm Market Research Store, the Indian telecommunication services market will likely grow by 10.3 per cent year-on-year to reach US$ 103.9 billion by 2020. India is all set to become the fourth largest smart-phone market by 2020, according to an industry-based study.
The industry has attracted FDI worth US$ 30.08 billion during the period April 2000 to December 2017, according to the data released by Department of Industrial Policy and Promotion (DIPP).