Telecom
Telecommunications or Telecom is the exchange of information or undertaking a conversation over a vast and considerable distance between two or more people, via electronic means. It circumscribes all kinds of voice, data and video transmissions.
It includes all sorts of information-transmitting technologies and communication infrastructures such as wired phones, mobile devices such as cell phones, microwave communications, satellites, fibre optics, radio and television broadcasting, the internet and telegraphs.
A telecommunication set generally comprises two stations: a transmitter and a receiver. A telecom network is considered to be common for transmitting and receiving data. The internet is the largest example of the transmission of data. Examples include cellar networks, telephonic networks, corporate and academic wide-area networks and broadcast networks.
The Indian economy has an extremely strong telecommunication sector. It is the second-largest telecommunications sector is the world. It has more than 1117.8 million telephone users (including mobiles). India’s internet user base is vast with 778 million people. This figure is continuously rising concerning the riveting increase in the technological advancement of the citizens of the country.
The prominent market players include Jio, Airtel and Vodafone. It cannot be said that the telecommunications sector displays monopolies tendencies as these companies continue to work towards consumer benefits. The telecom sector is the only sector to distinctly depict sustain long-term growth. The latest development in the Indian telecommunications sector is the introduction of 5G coverage. Recently a spectrum auction was held.
With the advent of the wireless revolution in India, communication via the internet has gained a lot of popularity. Applications like Facebook, WhatsApp, Instagram, We Chat have made it possible to communicate with our friends and family without paying any bills.
Telecommunication has glaringly contributed to the Indian economy. It accounts for 6.5% of the Indian Gross Domestic Product. It has made communication extremely simple and cost-effective. People can contact any individual at the click of a button, irrespective of whichever part of the world they reside in. This has made huge contributions to business to the way businesses are run. Telecommunications has also played a noteworthy part in the digitisation of the economy. Huge chunks of data can be transferred within a few seconds. It has strikingly reduced human effort and saved a lot of valuable time.
According to the GSMA, India is on its way to becoming the second-largest smartphone network across the globe by 2025 with around a billion installed devices. India is expected to have 920 million unique mobile subscribers including 88 million 5G subscribers.
5G is set to turn the tables for the Indian economy. It is likely to yield a multitude of economic opportunities and contribute to the economic development of the country. India may unlock 49 billion in the next three years.
