Indian telecom sector records remarkable growth in 2023-24, says TRAI annual report

According to the annual report released by the Telecom Regulatory Authority of India (TRAI), Indian telecom sector has witnessed remarkable growth during the financial year 2023-2024 (FY24).

The report highlighted significant growth trends and key parameters across various services. The report has been prepared based on the information furnished by the service providers. The report added that the overall tele-density in India increased from 84.51 per cent in March 2023 to 85.69 per cent in March 2024, at a yearly growth rate of 1.39 per cent.

There are several key takeaways from the report, including:

• Surge in total internet subscribers: Total number of internet subscribers increased from 881 million at the end of March 2023 to 954 million at the end of March 2024 with yearly rate of growth of 8.30 per cent, leading to addition of 73 million internet subscribers in the last one year.
• Dominance of broadband subscribers: Broadband services maintained their upward trajectory, with the number of broadband subscribers increasing from 846 million in March 2023 to 924 million in March 2024. This robust growth rate of 9.15 per cent with a massive addition of 78 million Broadband subscribers underscores the importance of high-speed connectivity.
• Exponential data consumption: Number of wireless data subscribers has increased from 846 million at the end of March 2023 to 913 million at the end of March 2024 with yearly rate of growth of 7.93 per cent. Further, total volume of wireless data usage increased from 1,60,054 petabyte (PB) during the year 2022-23 to 1,94,774 PB during FY24 with yearly growth of 21.69 per cent.
• Rise in tele density: The number of telephone subscribers in India increased from 1.17 billion at the end of March 2023 to 1.19 billion at the end of March 2024, registering a yearly rate of growth 2.30 per cent. The overall Tele-density in India increased from 84.51 per cent at the end of March 2023 to 85.69 per cent at the end of March 2024 at yearly rate of growth of 1.39 per cent.
• Average minutes of usage (MOUs) per subscriber per month increased from 919 during the year 2022-23 to 963 in 2023-24 with yearly rate of growth of 4.73 per cent.
• Adjusted gross revenue (AGR) also increased from Rs 2.49 trillion in the year 2022-23 to Rs 2.70 trillion in the year 2023-24 with yearly rate of growth of 8.24 per cent.