India is one of the most developing economies in the world that has grown at an accelerated speed. The telecom industry is known to be one of the most profitable sectors that have contributed huge revenue to the economy of the country. Telecommunication companies were earlier owned by the government but later it was privatized. Today there are a huge number of companies in India that offer efficient and reputed services to its customers through various transmission devices. Privatization of the industry has augmented the growth of the communication sector in different ways.
Fastest Growing Sector in India
The telecommunication sector in India is widely renowned for its profitable markets in the global economy. The rural sectors of the country are considered to include a huge potential to augment the growth of the communication sector in all possible ventures. The Indian government has taken initiative steps to improve the rural connectivity which has further aided in the growth and development of the communication sector.
There are a large number of telecom products manufacturing and service providing companies in India which include Airtel, Spice Communication, Idea Cellular, Reliance Communication, MTNL, Tata Docomo, Vodafone, Tata Communication and so forth.
The government has taken steps to regulate the communication sector with the introduction of TRAI or Telecom Regulatory Authority of India to regulate these private sector companies. With the introduction of various regulatory acts and policies, there has been a substantial improvement in the communication sector of the country. Low charges for calls, increased sale of mobile phone, cheap cell phones with free sim cards and so forth are some of the recent developments in the field of communication.
Notable Recent Developments
The recent development of the communication sector includes the Mobile Number Portability which enables customers to change their service providers while retaining the mobile numbers. With the improvement in technology, mobile companies have introduced various additional features in the mobile handsets. Another recent development is the arrival of 3G network services.
Most of the companies in India aim to provide better and faster access of data services, audio video conferencing, social networking and several other broadband applications. With the development of 3G network services, most of the consumers opt for smart phones. This has further led to the rise in the sale of smartphones. The Indian mobile industry has flourished in the past several years and will continue to grow according to the recent surveys. India is the second largest wireless market for mobile phones in the world.
With the introduction of 3G network services and increased mobile phone users in the country, the tele-medicine project will soon become a reality. The project involves treatment and diagnosis of patients in remote areas through broadband services. Telecom companies plan to use cellular phones to treat patients and provide health awareness.
With the increase in the use of mobile phones in the country, a wide variety of equipments are manufactured by most of the Indian companies. The government has taken many steps to augment the growth process of this private sector industry.