The Indian telecom sector experienced remarkable growth in FY24, as highlighted in the annual report released by the Telecom Regulatory Authority of India (TRAI). Based on data from service providers, the report outlines significant growth across various key parameters. India’s teledensity rose from 84.51% at the end of March 2023 to 85.69% at the end of March 2024, marking a yearly growth rate of 1.39%. The number of telephone subscribers increased from 117.2 crore to 119.9 crore, reflecting a 2.30% growth. Additionally, the total number of internet subscribers grew from 88.1 crore to 95.4 crore, with a yearly growth rate of 8.30%, driven by a surge in broadband services, which saw subscriptions increase from 84.6 crore to 92.4 crore, representing a 9.15% growth rate. Wireless data subscribers also grew, with the total volume of wireless data usage surging from 1,60,054 PB in 2022-23 to 1,94,774 PB in 2023-24, a significant 21.69% increase.
Furthermore, the report highlights an increase in the average minutes of usage (MOUs) per subscriber per month from 919 during 2022-23 to 963 in 2023-24, recording a growth rate of 4.73%. The sector’s financial performance also improved, with Adjusted Gross Revenue (AGR) rising from US$ 30.03 billion (Rs. 2,49,908 crore) in 2022-23 to US$ 32.50 billion (Rs. 2,70,504 crore) in 2023-24, achieving a yearly growth rate of 8.24%. This report serves as a comprehensive reference for stakeholders, research agencies, and analysts, presenting key parameters and growth trends for telecom services in India during FY24.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.