Telecommunications has been a game changer to the Indian economy and supported by innovations and technical advances is growing at a spectacular rate. Today we stand 2nd highest in the world in terms of user base 1.20 billion. The telecom subscriber base is increasing at jet speed as both rural and urban India is participating equally in the smart phone and internet revolution with 7 out of 8 users accessing internet from their mobiles. India has highest data usage per smart with average of around 10 gb data per month.
It remains a key sector driving the economic growth of India and the sole sector that is developing at a ground-breaking pace. With players like Reliance Jio entering the sphere, voice calls have practically become free while internet cost has gone down by more than 15 times. This has made telecommunication facility accessible to the bottom of the pyramid. Digital media also continues to contribute significantly to the industry boom with the ever swelling hours spent on youtube and other popular channels.The government has also unveiled National Digital Communication Policy in September 2018 which aims to attract USD 100 billion of investment.
With the rapid evolution, the segment has also been exposed to several risks and challenges. Small businesses suffer financial risks on account of technological glitches and business interruptions; cyber attacks and risk of data security has to be managed seamlessly and so do the liability claims that may arise as the industry tries to keep pace with changes in formats and distribution patterns. Volatility in demand, changes in technology, supply chain risks are few more worth mention.
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