Over the past decade, India has undergone a significant transformation driven by the government's vision of building a self-reliant Bharat. The country, once known as the global IT services hub, has transitioned into a key manufacturing destination. Investment opportunities have surged, spurred by the FDI flows and the supportive regulations. The telecom industry has been the focal point of this transition, emerging as the second largest in the world, with a total subscriber base of 1.2 billion as of August 2024.
This achievement has been made possible through robust digital infrastructure, supportive government policies, industry-wide collaboration, and, importantly, the rise of new-age companies-startups-creating solutions for a broader consumer base.
The start-up ecosystem, hailed as the backbone of India's economy, has elevated the country's prestige on the global front through astonishing innovations and contributions across sectors. Home to over 1.25 lakh DPIIT-recognised startups and 110 unicorns, India's startup ecosystem has been recognised globally as a dynamic and rapidly growing force. According to governmental data, these startups, with immense potential to drive innovation and economic growth, are solving problems in more than 56 diverse industrial sectors. Among these, over 13% are engaged in IT services.
TRENDS SHAPING THE TELECOM SECTOR
The introduction of 5G technologies in India has enhanced the quality of services and positioned the country as a global leader in technological innovation, with one of the fastest rollouts. India is also setting an example for other developing countries by contributing to the establishment of global technological standards and research patents in emerging technologies such as 6G. Startups and academia are also pivotal in this transformation, driving India's evolution into a digitally advanced nation.
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