2 Years agoThe volumes and potential growth of India's mobile market makes it an important investment destination world over.
The Indian telecommunications sector shaped by consumer demand, innovation and competitive forces offers tremendous investment opportunities. With the second largest subscriber base in the world with 1.06 billon connections (including fixed phone lines), the telecom industry is booming. Recently, India with 275 million smart-phone subscribers, outpaced the United States, to become the second largest smart-phone subscriber market in the world.
The mobile industry in India, currently contributing 6.5% (USD 140 billion) to country’s GDP, and employing over 4 million people (direct and indirect), is projected to grow rapidly in the coming years. By 2020, the industry is expected to contribute 8.2% to country’s GDP, and add 800,000 more jobs. In terms of unique mobile phone subscribers, India is expected to cross the 1 billion mark by 2020 and demand for telecom equipment is estimated to exceed USD 30 billion by 2020. India will see an increase in adoption of 4G services with number of 4G connections estimated to grow to 280 million by 2020 from just 3 million in 2015.