Indian Telecom sector sees record-breaking growth in 2023-2024
In the financial year 2023-2024, the Indian telecom sector experienced unprecedented growth, as detailed in the latest report from the Telecom Regulatory Authority of India (TRAI). The report highlights a notable increase in key telecom metrics, reflecting the sector’s crucial role in enhancing technology and connectivity nationwide. The overall tele-density rose from 84.51% at the end of March 2023 to 85.69% by March 2024, representing a yearly growth of 1.39%.
The total number of internet subscribers surged from 88.1 crore to 95.4 crore, an increase of 8.30% over the past year, adding 7.3 crore new subscribers. Broadband subscriptions also saw significant growth, climbing from 84.6 crore to 92.4 crore, marking a 9.15% annual increase and adding 7.8 crore subscribers. This growth underscores the growing demand for high-speed internet connectivity.
The number of wireless data subscribers expanded from 84.6 crore to 91.3 crore, achieving a 7.93% annual growth. Concurrently, total wireless data usage surged from 1,60,054 PB to 1,94,774 PB, reflecting a 21.69% increase. Additionally, the number of telephone subscribers increased from 117.2 crore to 119.9 crore, showing a yearly growth of 2.30%, which contributed to the overall rise in tele-density.
Average minutes of usage per subscriber per month grew from 919 to 963, a 4.73% increase, while Adjusted Gross Revenue (AGR) rose from Rs 2,49,908 crore to Rs 2,70,504 crore, marking an 8.24% annual growth. The TRAI report not only underscores these impressive growth trends but also serves as a valuable resource for stakeholders, researchers, and analysts, offering a comprehensive view of the telecom sector’s performance over the past year.
