India has emerged as one of the youngest and fastest growing economies in the world today. One of the sectors that has shown the signs of profitability and contributed significantly to the country's economy is the telecom industry. In fact, the Indian telecom market has gained recognition as one of the most lucrative markets globally. The vast rural market holds a huge potential to drive the future growth of the telecom companies.
The Indian telecom market has been displaying sustained high growth rates. Riding on expectations of overall high economic growth and consequent rising income levels, it offers an unprecedented opportunity for foreign investment. A combination of factors is driving growth in the telecom market, promising rich returns on investments. India is the fourth largest telecom market in Asia after China, Japan and South Korea. The Indian telecom network is the eighth largest in the world and the second largest among emerging economies.
The industry has witnessed an explosive growth in recent years. Convergence of services, industry consolidation, and increased competition and diminishing revenue streams are the few challenges which are forcing telecom companies to streamline operations and increase competitive agility.
From a fixed landline to a smart phone, from 2G to 3G and now 4G, the telecom industry in India is on the cusp of the second wave of growth. The Indian telecom sector is one of the fastest growing in the world and is projected to become the second largest telecom market globally. According to the Telecom Regulatory Authority of India (TRAI), India has over 600 million mobile subscribers and this number is expected to reach 1.01 billion by 2014. With newer technologies such as 3G and WIMAX entering the market, the sector has opened up enormous opportunities.
There is a huge demand for qualified and skilled professionals with knowledge and technical know-how in these fields. The telecom revolution in India has been quite exceptional, with so many new players entering the market and existent players expanding operations. While the sector has been one of the largest employers in the last decade, it would still need around 2,75,000 people by 2015. The challenge here would be to get the right talent