India mobile service revenue to reach $39 bn by 2024

Indian mobile service revenues are forecast to double from $19.6 billion in 2018 to $39.8 billion by 2024, research firm GlobalData said.
India’s mobile subscriber base will reach 1.4 billion by 2024 from over 1.2 billion in 2018, the report on the Indian telecom services industry said.

The average mobile monthly data usage jumped from 733MB per month in 2017 to 4.1GB per month in 2018.

Indian operators’ mobile data revenues will grow at a CAGR of 13 percent from $7 billion in 2019 to $13 billion by 2024.

Indian telecoms are working on building 5G infrastructure in partnership with infrastructure and equipment vendors such as Huawei, Nokia and Ericsson.

India will have around 138 million 5G subscribers by 2024. India government is planning to conduct 5G spectrum auction shortly.

The Government had increased foreign direct investment (FDI) cap in the telecom sector from 74 percent to 100 percent. FDI inflows into the Indian telecom sector during April 2000 to March 2019 totalled $32.82 billion.