Domestic telecom sector soars in 2023-2024 with record subscriber growth: TRAI

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 percent at the end of March 2023 to 85.69 percent at the end of March 2024, marking an annual growth rate of 1.39 percent. 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 percent 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 percent 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 percent.

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 percent annual increase. The number of telephone subscribers rose from 117.2 crore to 119.9 crore, achieving a 2.30 percent growth rate. The overall teledensity in India improved from 84.51 percent to 85.69 percent over the year, a 1.39 percent 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 percent 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