India's Telecom Sector Sees Impressive Growth in FY 2023-24: TRAI Report

The Indian telecom sector displayed significant growth in FY 2023-24, according to TRAI’s annual report. Key metrics indicate increased teledensity, internet subscribers, and wireless data usage. The report highlights a robust demand for high-speed connectivity and an uptick in average usage minutes and Adjusted Gross Revenue.

The Indian telecom sector demonstrated significant growth during the financial year 2023-2024, as highlighted in the newly released annual report by the Telecom Regulatory Authority of India (TRAI). The report, backed by data from service providers and the Ministry of Telecommunications, underscores burgeoning trends in various telecom services.

India's teledensity rose from 84.51 per cent in March 2023 to 85.69 per cent in March 2024, marking a 1.39 per cent annual growth. The number of internet subscribers saw an impressive jump from 88.1 crore in March 2023 to 95.4 crore by March 2024, reflecting an 8.30 per cent annual growth rate, adding 7.3 crore new subscribers.

Broadband services continued their upward trend, with subscribers increasing from 84.6 crore to 92.4 crore, a robust 9.15 per cent growth rate, adding 7.8 crore new users. Wireless data subscribers grew from 84.6 crore in March 2023 to 91.3 crore in March 2024, a 7.93 per cent rise. Total wireless data usage surged 21.69 per cent from 1,60,054 PB in 2022-23 to 1,94,774 PB in 2023-24. Telephone subscribers increased from 117.2 crore to 119.9 crore, achieving a 2.30 per cent growth rate, while average minutes of usage (MOUs) per subscriber per month rose from 919 to 963, a 4.73 per cent increase. Adjusted Gross Revenue (AGR) also saw an 8.24 per cent rise, from Rs 2,49,908 crore to Rs 2,70,504 crore.

(With inputs from agencies.)