Indian telecom sector soars in 2023-2024 with record subscriber growt

New Delhi [India], August 20 (ANI): The Indian telecom sector has achieved growth during the financial year 2023-2024, as revealed in the latest annual report released by the Telecom Regulatory Authority of India (TRAI).

According to the Ministry of Telecommunications, the report underscores growth trends and key metrics across various telecom services, compiled from data provided by service providers. It reveals that India’s overall teledensity rose from 84.51 per cent at the end of March 2023 to 85.69 per cent at the end of March 2024, marking an annual growth rate of 1.39 per cent.

The number of internet subscribers jumped from 88.1 crore at the end of March 2023 to 95.4 crore by March 2024, reflecting an 8.30 per cent annual growth rate and adding 7.3 crore new subscribers over the year.

Broadband services continued their upward trajectory, with subscribers increasing from 84.6 crore to 92.4 crore. This robust 9.15 per cent growth rate and the addition of 7.8 crore new broadband subscribers highlight the growing demand for high-speed connectivity.

The count of wireless data subscribers climbed from 84.6 crore in March 2023 to 91.3 crore in March 2024, a growth of 7.93 per cent. Additionally, the total volume of wireless data usage surged from 1,60,054 PB in 2022-23 to 1,94,774 PB in 2023-24, reflecting a 21.69 per cent annual increase.

The number of telephone subscribers rose from 117.2 crore to 119.9 crore, achieving a 2.30 per cent growth rate. The overall tele-density in India improved from 84.51 per cent to 85.69 per cent over the year, a 1.39 per cent increase.

The average minutes of usage (MOUs) per subscriber per month grew from 919 in 2022-23 to 963 in 2023-24, representing a 4.73 per cent annual increase.

Adjusted Gross Revenue (AGR) rose from Rs 2,49,908 crore in 2022-23 to Rs 2,70,504 crore in 2023-24, marking an 8.24 per cent annual growth.

This report not only outlines the key metrics and growth trends for India’s telecom sector in 2023-24 but also provides a comprehensive overview for stakeholders, research agencies, and analysts.