Telecom is the fastest growing sector in India. Tariff reduction and decline in handset costs have played a significant role to gain popularity amongst the end-users. The telecom sector constitutes of 3 segments: 1. Wireless 2. Wireline 3. Internet services. Out of all key components, India is the second-largest marketplace of internet users. Let us understand the significance of the Indian telecom sector in recent years.
India has the second-largest subscriber base of around 1.20 billion (120 crores), users after China. The primary goal is to provide affordable services to consumers. The Indian government has enabled secure access to the telecom authorities due to high market demand as a result; the GDP has gone up and opened the floodgates for employment at the same time in our country. The government of India has adopted the National Digital Communication policy, in September 2018 and aims to generate 4 million (0.4 crores), jobs by 2022 in this sector.
As per Telecom Regulatory Authority of India, the country remained as the fastest growing network for app downloads on Google Play store in the third quarter of 2018. Further, its goal is to add 500 million (50 crores), new internet users in the coming years. With increasing customer base every day; it creates an opportunity for new businesses in the long run. BSNL is expected to launch 5G services by 2020. The mobile wallet transactions have increased at a rapid pace in the past few months.
How can we help?
We have vast experience with clients in the telecom sector, which enables us to devise your financial, tax, entry strategy, entity strategy, foreign direct investment strategy and regulatory strategies in an informed manner to enable your telecom business to derive the desired value and results.
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