24-hour non-stop growth with Telecommunication Services

Do you remember the days when we would ask our neighbor’s permission to use their phone? In the past three decades, India has leaped several hurdles to become one of the world’s largest consumers of mobile phones and other devices. There is no doubt that telecommunications services are vital for the socio-economic development of the country. India currently holds the world’s third largest market for internet at a user base of 120 million and is set to have approximately 370 million by the end of 2015.

What are the current and the future statistics of this sector? 

According to the IMRB, India is expected to have more than 130 million internet users by the end of the next financial year. Close to a 90 million users access internet with their mobile phones. Apart from providing basic telecommunications services, TRAI has allowed companies to provide internet services at discounted rates. The advent of the internet for Indians took place along with the demand for mobile phones.

One can see the impact of this rise in the telecommunications services in the rural areas as well. On the whole, the contribution to the GDP from this industry alone is approximately US $100 billion. Such is the growth of this sector that it impacts all areas of socio-economic development. The major factor is the rise in employment where this industry is predicted to generate jobs of approximately 22 million within 2 years.

The telecommunications services industry is likely to increase its contribution to the GDP in two years. Despite the government rules and regulations as well as several scams, the industry still continues to be a major reason for the country’s growth. As more telecom majors enter the market, the price competition will lead to increased accessibility of the mobile and internet services at a cheap rate, for the common man in India.