Indian mobile industry is expected to create the economic value of about $217 billion and create 5 million jobs by 2020, telecom minister Manoj Sinha said. “The Indian mobile industry is expected to create a total economic value of Rs 14 trillion, about USD 217.37 billion, by the year 2020. It would generate around 3 million direct job opportunities and 2 million indirect jobs during this period,” Sinha said at EY-COAI TMT Leaders’ Conclave. Also Read - FASTag is now free until February 29, NHAI waves off charges for 15 daysAlso Read - How to recharge FASTag account for Electronic Toll Collection
The minister said that the telecom sector accounted for about 6.5 percent to the national GDP, while it brought investment worth about $141.22 billion. The telecom market is likely to grow by 10.3 percent- on- year to reach $103.9 billion by 2020, he said.
“The revenue of mobile handset industry rose 22 percent to $21.12 billion in 2016 and it is expected that by 2017 around 200 million mobile handsets will be made out of India out of the 270 million mobile handsets to be shipped in the country,” Sinha said.
Earlier in the day, Law and IT Minister Ravi Shankar Prasad told the conference that 100 companies in the field of mobile phones have started making their products in India and the country is emerging as a big hub for mobile manufacturing. ALSO READ: Centre finalizing cyber security standards for mobile phones: Ravi Shankar Prasad
Sinha said that statistics related to Indian telecom sector is significant and telecom operators in the country are offering lowest tariff in the world. “This is what drives the government’s ambitious flagship Digital India Programme. It is Prime Minister Narendra Modi’s vision and our effort to transform India into a digitally empowered society and knowledge economy,” Sinha said.
Telecom Secretary Aruna Sundararajan said that India now has formula for future. ALSO READ: Domestic mobile manufacturing industry to reach Rs 1.35 lakh crore by 2020: Report
“We have first rate set of technology leaders and champions. Next big challenge would be to connect everything that is when huge value is going to unlock. We have only scracthed the surface. The future of Digital, telecom is huge in India,” Sundararajan said.