The Department of Industrial Policy and Promotion and the Department of Telecom have released a joint report which says that the mobile industry’s contribution to India’s GDP will increase to 8.2% by 2020 from the current 6.5%. According to The Indian Express, the report adds,
The mobile industry in India, currently contributing 6.5 per cent ($140 billion) to country’s GDP, and employing over 4 million people (direct and indirect), is projected to grow rapidly in the coming years. By 2020, the industry is expected to contribute 8.2 per cent to country’s GDP.”
The report also expects that the mobile industry will add 800,000 more jobs as the number of mobile units manufactured in the country increases as well as the mobile subscriber base increases. Total Foreign Direct Investment in telecom sector from April 2014 to March 2016 was around $4.19 billion.