Indian Telecom Sector Records Remarkable Growth in 2023-2024
Telecom : Number of telephone subscribers reaches 119.9 crore
The Indian telecom sector has witnessed remarkable growth during the financial year 2023-2024, as highlighted in the annual report released by the Telecom Regulatory Authority of India (TRAI). Notably, the total number of internet subscribers surged from 88.1 crore in March 2023 to 95.4 crore by March 2024, representing an 8.30% annual growth rate and the addition of 7.3 crore subscribers.
Moreover, broadband services continued their upward trajectory, with the number of broadband subscribers increasing from 84.6 crore in March 2023 to 92.4 crore in March 2024. This strong 9.15% growth rate, along with the significant addition of 7.8 crore subscribers, underscores the growing importance of high-speed connectivity.
In addition, wireless data subscribers experienced a notable increase, rising from 84.6 crore in March 2023 to 91.3 crore in March 2024, reflecting a 7.93% growth rate. Correspondingly, the total volume of wireless data usage saw an impressive jump from 1,60,054 PB in 2022-23 to 1,94,774 PB in 2023-24, marking a substantial 21.69% growth.
Furthermore, the number of telephone subscribers in India rose from 117.2 crore in March 2023 to 119.9 crore in March 2024, indicating a 2.30% annual growth rate. Consequently, the overall tele-density in India improved from 84.51% in March 2023 to 85.69% in March 2024, growing at a rate of 1.39%.
Additionally, the average monthly Minutes of Usage (MOUs) per subscriber increased from 919 in 2022-23 to 963 in 2023-24, reflecting a 4.73% growth rate. The Adjusted Gross Revenue (AGR) also grew from Rs 2,49,908 crore in 2022-23 to Rs 2,70,504 crore in 2023-24, demonstrating an 8.24% growth rate.
In summary, this report presents the key parameters and growth trends for the telecom services in India during the financial year 2023-24, providing valuable insights for stakeholders, research agencies, and analysts.
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