TELECOMMUNICATIONS - IBEF• Revenues of the Indian telecom industry are projected to reach US$ 45 billion by 2012, compared with US$ 33 billion in 2009. • Key players in the Indian

TELECOMMUNICATIONS November 2010


Advantage India

Market overview

Investments

Policy and regulatory framework

Opportunities

Industry associations

Contents

2

Advantage India

Advantage

India

High growth

For more than a decade, the sector has witnessed a steady addition in wireless subscribers. India has been adding 15-20 million

subscribers every month, making it the world’s fastest growing wireless market.

Among the

biggest telecom

markets in the

world

India is the second-largest telecom market in

the world with 706.4 million subscribers as

on August 31, 2010, which are estimated to

reach approximately 1 billion by 2014.

Well-defined

regulatory

framework

The Department of Telecommunications (DoT),

Telecom Regulatory Authority of India (TRAI), and

Telecom Disputes Settlement and Appellate Tribunal

(TDSAT) have enabled to create well-defined

regulations for the sector such as the National

Telecom Policy 1999 and Universal Service

Obligation Fund (USOF).

High profitability

due to a large

subscriber base

An increase in the minutes of usage (MoU) compensates for the decline in tariffs, thereby contributing to healthy revenue

growth. India has one of the highest minutes of usage (MoU) per subscriber per month, at more than 400 minutes.

Liberal

foreign

investment

regime

The telecom sector is one of the highest

FDI-attracting sectors in India, and has

recorded FDI inflow worth more than

US$ 9 billion between 2000 and 2010.

Demand

for

mobile

handsets

Mobile handsets sales in India are expected

to reach 138.6 million units in 2010, an

increase of 18.5 per cent over 2009.

Sources: ―TRAI: The Indian Telecom Services Performance Indicators (April - June 2010),‖ TRAI website, http://www.trai.gov.in/Default.asp, accessed 20

November 2010; ―TRAI: Spectrum Management and Licensing Framework,‖ TRAI website, http://www.trai.gov.in/Default.asp, page 18, accessed 20 November

2010; ―Fact Sheet on Foreign Direct Investment (FDI) from August 1991 to September 2010,‖ Department of Industrial Policy & Promotion, http://dipp.nic.in/,

accessed 20 November 2010; Framework India 2012: Telecom growth continues, Ernst & Young – Telecom Report, 2008; ―Telcos to recoup 3G bid money in

5-6 years: Analysys Mason,‖ livemint website, http://www.livemint.com/2010/05/30230743/Telcos-to-recoup-3G-bid-money.html, accessed 30 November

2010; ―Gartner Says Indian Mobile Handset Sales To Reach 138.6 million in 2010,‖ Gartner website, http://www.gartner.com/it/page.jsp?id=1412313, accessed

30 November 2010

Telecommunications November 2010

ADVANTAGE INDIA

3

http://www.trai.gov.in/Default.asp


http://dipp.nic.in/

http://www.livemint.com/2010/05/30230743/Telcos-to-recoup-3G-bid-money.html











http://www.gartner.com/it/page.jsp?id=1412313

Advantage India

Market overview

Investments


Opportunities


Contents


4

Market overview

• The telecom sector in India has witnessed unparalleled growth by global standards in the last decade and continues to be one of the country’s biggest success stories. This growth has been built on the wireless revolution.

• At the end of August 2010, tele-density was recorded at 59.6 per cent with a total telephone subscriber base of 706.4 million.

• By 2014, the wireless subscriber base is expected to reach approximately 1 billion to include around 572 million urban subscribers and 468 million rural subscribers.

• Revenues of the Indian telecom industry are projected to reach US$ 45 billion by 2012, compared with US$ 33 billion in 2009.

• Key players in the Indian telecom market are Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Limited (MTNL), Bharti Airtel Limited, Reliance Communication, Vodafone, Idea Cellular, Aircel and Tata Teleservices.

Sources: ―TRAI: The Indian Telecom Services Performance Indicators (April - June 2010),‖ TRAI website, http://www.trai.gov.in/Default.asp, accessed

20 November 2010; ―TRAI: Spectrum Management and Licensing Framework,‖ TRAI website, http://www.trai.gov.in/Default.asp, page 18, accessed

20 November 2010; Framework India 2012: Telecom growth continues, Ernst & Young – Telecom Report, 2008; ―TRAI Press Release No 53

/2010,‖ TRAI website, http://www.trai.gov.in/Default.asp, accessed 20 November 2010

MARKET OVERVIEW


5




Market segments

• The Indian telecom industry can be primarily divided into basic, cellular and internet services. It also has relatively segments such as radio paging services, very small aperture terminals (VSATs), public mobile radio trunked services (PMRTS) and global mobile personal communications by satellite (GMPCS).

MARKET OVERVIEW

Telecom sector

Internet servicesRadio paging and

GMPCS

VSATs and

PMRTSWireless servicesBasic services


6

• The subscriber base of wire line services stood at 36 million as on August 2010, with a teledensity of 3 per cent.

• Public sector undertakings — BSNL and MTNL — have a major share of the wire line market covering more than 80 per cent.

• MTNL is present in Delhi and Mumbai, while BSNL covers the rest of the country.

• Although private players such as Tata Teleservices, Bharti Airtel and Reliance have registered significant growth, BSNL continues to dominate the segment in terms of wire line subscriber base.

Sources: ―TRAI: The Indian Telecom Services Performance

Indicators (April - June 2010),‖ TRAI website,

http://www.trai.gov.in/Default.asp, accessed 20 November 2010;

―TRAI Press Release No 53 /2010,‖ TRAI website,

http://www.trai.gov.in/Default.asp, accessed 20 November 2010

MARKET OVERVIEW

Market share of wire line services as on August

31, 2010 (per cent)

74.0

9.7

8.93.4

3.4

0.5 0.1

BSNL

MTNL

Bharti

Tata

Reliance

HFCL

Sistema

Market segments — wire line


7



• The wireless segment includes GSM and CDMA services and is much larger than the wire line segment in India. The segment is growing steadily because of the convenience and utility it offers.

• The subscriber base of wireless services stood at 670.6 million as of August 2010 with tele-density of 56.6 per cent.

• As of June 2010, the wireless market recorded 527. 6 million GSM subscribers accounting for 83 per cent of the market and 107.9 million CDMA subscribers accounting for the remaining 17 per cent.

• Private players such as Bharti Airtel Limited, Reliance Communication, Vodafone, Tata, BSNL, Idea Cellular and Aircel cumulatively hold a major share of the wireless market.

MARKET OVERVIEW

Market segments — wireless

Market share of wireless services as on August

31, 2010 (per cent)

21.1

17.2

17.011.5

11.3

10.9

6.7

0.40.1 Bharti

Reliance

Vodafone

Tata

BSNL

Idea

Aircel

Unitech

Others

Note: Others include Sistema, MTNL, Videocon, Loop, Stel,

HFCL, and Etisalat.







8



• High growth in broadband outreach is expected to drive the next phase of growth in the telecom industry. While broadband connections are increasing rapidly, their reach in India is still at 0.7 per cent, as against the worldwide outreach of 8.1 per cent.

• As on August 31, 2010, the subscription base of broadband was 10.1 million. Broadband subscribers are expected to grow to 30 million, while Internet subscribers are expected to grow to 45 million by 2012.

• Key players in the segment are BSNL, MTNL, Bharti, Tata Communication, Reliance Communication, Sify Technologies, YOU Telecom, Data Infosys and Hathway Cables.

• Following the 3G and Broadband Wireless Access (BWA) auction, the data sector is expected to grow rapidly.

MARKET OVERVIEW

Market segments — broadband and the Internet

Sources: ―Fact Sheet on Foreign Direct Investment (FDI) from August 1991 to March 2010,‖ Department of Industrial Policy & Promotion

website, http://dipp.nic.in/, accessed 20 November 2010; ―TRAI Press Release No 53 /2010,‖ TRAI website, http://www.trai.gov.in/Default.asp,

accessed 20 November 2010


9

http://dipp.nic.in/


• At present, there are eight VSAT service providers in India, including BSNL, Bharti Airtel, Hughes Communications India Ltd and HCL Comnet Ltd.

• The number of VSAT subscriber services grew by 4,311 to 128,406 for the quarter ending June 2010. The market for VSAT services registered 3.5 per cent growth in the quarter ending June 2010.

• Bharti Airtel is the current market leader, with a market share of 30.9 per cent, followed by Hughes Communications India Ltd, which has a market share of 30.0 per cent.

MARKET OVERVIEW

Market segments —VSAT

Market share of VSAT services as on

June 30, 2010 (in per cent)

30.9

30.0

21.4

10.2

4.6

2.1 0.70.1 Bharti Airtel Limited

Hughes Communications Ltd.HCL Comnet

Tatanet Services

BSNL

Essel Shyam

Infotel Satcom

Bharti Broadband

Sources: ―TRAI: The Indian Telecom Services Performance Indicators

(April - June 2010),‖ TRAI website,





10



Source: ―TRAI: The Indian Telecom Services Performance Indicators (April - June 2010),‖ TRAI website, http://www.trai.gov.in/Default.asp,

accessed 20 November 2010

MARKET OVERVIEW

Radio paging services PMRTS GMPCS

Radio paging services were launched in India in 1995. At present, all but four radio paging service providers have been marginalised in the Indian market.

As of June 2010, five operators are offering Public Mobile Radio Trunk Services (PMRTS) service to 32,522 subscribers.

Global Mobile Personal Communications by Satellite (GMPCS) services were launched in India in 1999. These services allow a subscriber to communicate with others from any point on earth through a hand-held terminal. Moreover, the telephone number remains unchanged, irrespective of the subscriber’s location. Iridium India Telecom Limited is the pioneer in GMPCS services in India. The Government of India (GoI) has restricted foreign equity participation in this segment to 74 per cent.

Other segments


11


• The wireless segment in India is much larger than the wire line segment and is growing steadily due to the convenience and utility it offers.

• Wireless services hold a major market share of 94.6 per cent.

• The subscriber base of the wire line segment is decreasing due to its limited usage.

MARKET OVERVIEW

Subscriber base trends (percentage) in wireless and

wire line segments (2009–2010)

8.1%

7.3%

6.6%

5.9%

5.4%

91.9%

92.7%

93.4%

94.1%

94.6%

0% 20% 40% 60% 80% 100%

QE Jun 2009

QE Sep 2009

QE Dec 2009

QE Mar 2010

QE Jun 2010

Wireline Wireless

Key trends … (1/8)






India 2012: Telecom growth continues, Ernst & Young – Telecom

Report, 2008


12



• Rural markets are expected to be the next key growth drivers for the Indian telecom sector, given rural India’s growing population and disposable income.

• The subscriber base in the rural market has improved significantly in 2009–2010, with rural tele-density at 26.4 per cent as of June 2010.

• By 2012, the rural subscriber base is expected to account for nearly half of the total subscriber base, thereby fuelling sector growth.

MARKET OVERVIEW

Tele-density trends in the urban and rural market

between June 2009 and June 2010 (per cent)


95.1%

102.8%

111.0%

119.8%

128.2%

16.6%

18.5%

21.2%

24.3%

26.4%0%

20%

40%

60%

80%

100%

120%

140%

QE Jun 2009

QE Sep 2009

QE Dec 2009

QE Mar 2010

QE Jun 2010

Urban Rural







Report, 2008


13



• Bharti Airtel has the largest market share in the GSM segment. As of June 2010, Bharti accounted for 25.9 per cent of the GSM market, followed by Vodafone, with a 20.7 per cent market share.

• Private players accounted for approximately 86.4 per cent, while public sector operators (BSNL and MTNL) accounted for the remaining share (13.6 per cent).

MARKET OVERVIEW

Market share of GSM service providers

(as of June 2010) (per cent)

25.9

20.7

12.7

13.1

10.3

7.9

6.2 3.3Bharti

Vodafone

BSNL

Idea

Reliance

Aircel

Tata

Others

NOTE: Others include MTNL, Loop, Unitech, S Tel, Videocon,

Etisalat, and HFCL.







Report, 2008



14



• Reliance Communications dominates the Indian CDMA mobile services segment with a market share of 52.4 per cent as of June 2010.

MARKET OVERVIEW


Market share of CDMA service providers

(as of June 2010) (per cent)

52.436.8

5.54.7

0.3 0.3

Reliance

Tata

BSNL

Sistema

HFCL

MTNL



http://www.trai.gov.in/Default.asp, accessed 20 November

2010


15


• India is expected to feature among the top 10 broadband markets by 2013.

• The total number of Internet subscribers grew from 14.1 million subscribers in June 2009 to 16.7 million subscribers in June 2010.

• BSNL is the biggest player in this market with 9.7 million subscribers, followed by MTNL, Bharti Airtel, Reliance and Hathway Cable & Datacom.

• Digital subscriber line (DSL) is the most preferred technology among service providers to provide broadband services. DSL constitutes 86.6 per cent of total broadband subscribers. Cable modem technology follows with 6.5 per cent connections.

MARKET OVERVIEW


Top five Internet service providers by market share (as

of June 2010) (per cent)

57.8

13.8

8.1

7.9

1.910.5

BSNL

MTNL

Bharti Airtel

Reliance

Hathway Cable & Datacom

Others





16


• In India, growth in the subscriber base, which contributes to healthy revenue growth, mitigates the reduction in average revenue per user (ARPU). In addition, high MOUs compensate for declining tariffs.

MARKET OVERVIEW

MOU

June 2009 to June 2010

ARPU

June 2009 to June 2010


454

423411 410 401

342308 318 307 299

0

100

200

300

400

500

QE Jun 2009

QE Sep 2009

QE Dec 2009

QE Mar 2010

QE Jun 2010

GSM CDMA

185164

144131

122

92 89 8276

74

0

50

100

150

200

QE Jun 2009

QE Sep 2009

QE Dec 2009

QE Mar 2010

QE Jun 2010

GSM CDMA

Source: ―TRAI: The Indian Telecom Services Performance Indicators (April - June 2010),‖ TRAI website, http://www.trai.gov.in/Default.asp, accessed

20 November 2010


17


• From only 36.3 million in 2001, the number of telephone subscribers increased to 706.4 million as on August 31, 2010. Between 2001 and 2010, the total number of subscribers has grown at a CAGR of 36.4 per cent.

• Operators are reducing operating costs and hiving off infrastructure elements such as towers into separate entities, thus inviting significant investments.

• Passive infrastructure sharing has benefitted the Indian mobile industry and its customers, reducing the cost burden of each operator and speeding the rollout of mobile services.

• In recent years, initiatives such as network cost optimisation, outsourcing of non-core activities, as well as low-cost business models have been focus areas.

MARKET OVERVIEW


Sources: ―TRAI: The Indian Telecom Services Performance Indicators (April - June 2010),‖ TRAI website, http://www.trai.gov.in/Default.asp,

accessed 20 November 2010; ―TRAI Press Release No 53 /2010,‖ TRAI website, http://www.trai.gov.in/Default.asp, accessed 20 November

2010


18



• Every telecom service provider is looking beyond basic voice services by offering a wide range of bundled offerings. For example, nearly all leading operators, including incumbents, are in the testing phase to launch commercial IPTV services. Indian operators are still new in terms of offering ―quad-play‖ using existing network infrastructure for data, voice, video and basic communication services.

• Consumers can get all these services from the same telecom operator, and enterprises can also access virtual private networks (VPNs), video-conferencing, enterprise solutions, mobility and fixed telephony from the same integrated telecom service provider.

MARKET OVERVIEW


Source: India 2012: Telecom growth continues, Ernst & Young – Telecom Report, 2008


19

Advantage India

Market overview

Investments


Opportunities


Contents


20

• Despite the global economic slowdown in 2008–09, the telecom sector is one of the highest FDI-attracting sectors in India. At present, 74 to100 per cent FDI is permitted for various telecom services.

• The telecom sector is among the leading sectors attracting FDI, accounting for 8 per cent of the cumulative FDI equity inflow from April 2000 to September 2010, which is valued at US$ 9,988 million.

• The telecom market is witnessing significant M&A activity. This trend has helped companies expand their presence in the Indian telecom market to offer better services to customers.

INVESTMENTS

Investments … (1/2)

Source: ―Fact Sheet on Foreign Direct Investment (FDI) from August 1991 to March 2010,‖ Department of Industrial Policy & Promotion,

http://dipp.nic.in/, accessed 20 November 2010


21

http://dipp.nic.in/

Key deals (2010)

Deal date Target name Acquirer Deal value (US$ million)

June 8, 2010 Zain Africa BV Bharti Airtel Ltd 10,700.0

July 19, 2010 Aircel Ltd-Mobile TowersChennai Network Infrastructure

Ltd1,703.7

August 6, 2010 Essar Telecom Infrastructure Pvt Ltd Transcend Infrastructure Ltd 431.6

August 11, 2010 Viom Networks Ltd Macquarie SBI Infrastructure Fund 306.1

January 31, 2010 Warid Telecom Bangladesh Bharti Airtel Ltd 300.0

April 30, 2010Zicom Electronic Security Systems Ltd-

Electronic Security SystemSchneider Electric SA 48.9

January 12, 2010 Micromax Informatics Ltd TA Associates Inc 45.0

September 20, 2010 Micromax Informatics Ltd Investor Group 43.8

September 26, 2010 WIN PLC IMImobile Pvt Ltd 23.5

June 25, 2010 One97 Communications Ltd SAIF Partners 10.0

October 18, 2010 El Corp Ltd Yam Keong Chee 1.0

July 20, 2010 Karma Mobility Solutions India Pvt Ltd Spice Communications Ltd NA

March 31, 2010 Wireless TT Info Services LtdInfrastructure Development

Finance Co Ltd (IDFC)NA

May 10, 2010 Undisclosed Electronic Security Co Schneider Electric India Pvt Ltd NA

February 3, 2010 TowerVision India Pvt Ltd Quadrangle Group Asia Ltd NA

INVESTMENTS

Investments … (2/2)

Source: Thomson ONE Banker


22

Advantage India

Market overview

Investments


Opportunities


Contents


23

• The DoT governs the Indian telecom industry. In coordination with the Telecom Commission, the DoT oversees licensing, policy formulation, frequency management, administrative monitoring, research and development, equipment standardisation and validation, along with private investments.

• The DoT established the Telecom Regulatory Authority of India (TRAI) in1997 to streamline policy reforms and safeguard consumer interests.

• The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) was also established in 1997.

• The key objectives of the National Telecom Policy 1999 (NTP 99) include telecommunication for all and telecommunication within the reach of all, achieving universal service across all villages, global standards in service quality, India’s emergence as a major manufacturing base and a major exporter of telecom equipment, and the protection of the country’s security interests.

POLICY AND REGULATORY FRAMEWORK

Policy and regulatory framework … (1/3)

Source: ―Government of India, Department of Telecommunications,‖ DoT website, http://www.dot.gov.in/index.htm, accessed 20 November 2010


24

http://www.dot.gov.in/index.htm


DoT

Licensor and frequency

management for telecom

TRAI

Independent regulator

WPC

(Wireless Planning Commission)

Spectrum Management

TDSAT

Disputes settlement

body

Indian

telecom

industry

framework

ILD Players

VSNL

Bharti

Reliance

Private CDMA

Reliance

TTSL

BSNL

Sistema

HFCL

MTNL

GSM operators

Bharti

Vodafone

BSNL

Idea

Reliance

Aircel

Tata

Unitech

Telecom Commission

Exclusive policy making function

of the DoT

GoT–IT

(Group on Telecom and IT)

Handles ad–hoc issues




25


Unified Access Licensing Regime (UALR)

• The establishment of the UALR (2003) eliminated the need for separate licences for different services. This regime allowed players to offer both mobile and fixed-line services under a single licence after paying an additional entry fee. However, the regime does not take into account the national and international long-distance services and Internet access services.

Universal Service Obligations (USO)

• The USO policy was implemented along with the National Telephone Policy (NTP) in1999 to widen the reach of telephony services in rural India. All telecom operators are bound to contribute 5 per cent of their revenues to this fund. This system was put in place to bridge the gap between urban and rural tele-density, which is currently more than 100 per cent. Initially, only basic service providers were under the purview of the USO. Later, its scope was expanded to include mobile services. USO helps build telecommunication infrastructure in rural areas.





26


Advantage India

Market overview

Investments


Opportunities


Contents


27

Opportunities … (1/2)

OPPORTUNITIES

Among the biggest

telecom markets in

the world

Emergence of BWA

technologies

Internet services

Rural market

Sources: ―TRAI: The Indian Telecom Services Performance Indicators (April - June 2010),‖ TRAI website, http://www.trai.gov.in/Default.asp,

accessed 20 November 2010; ―TRAI: Spectrum Management and Licensing Framework,‖ TRAI website, http://www.trai.gov.in/Default.asp, page 18,

accessed 20 November 2010; Framework India 2012: Telecom growth continues, Ernst & Young – Telecom Report, 2008


• According to estimates from the TRAI, the wireless subscriber base is expected to reach

approximately 1 billion by 2014, with around 572 million urban subscribers and 468 million rural

subscribers.

• By 2012, total telecom outreach in the largely untapped potential rural markets of India is expected

to reach close to 40 per cent, compared with the current teledensity of around 26.4 per cent as of

June 2010.

• BWA technologies such as WiMax have been among the most significant developments in wireless

communication in recent times. WiMax is expected to attract around 8 to10 million subscribers and

account for around US$ 1–1.5 billion by 2012, assuming that low-cost devices and data cards are

available and services are affordable.

• Despite the low reach of Internet services in the Indian market, this segment is expected to grow in

the next decade in terms of number of subscribers. India is expected to feature among the top 10

broadband markets by 2013.

28



OPPORTUNITIES

Growth of telecom

infrastructure

Growth in VAS

Telecom equipment

market

Opportunities … (2/2)

Sources: Framework India 2012: Telecom growth continues, Ernst & Young – Telecom Report, 2008; Report of Task Force to suggest measures to

stimulate the growth of IT, ITES and Electronics Hardware manufacturing industry in India, Ernst & Young; ―Indian Telecommunication Equipment

Market- Opportunities for US Companies,‖ IVG Partners website, page 4; ―Emerging Landscape in Mobile VAS Industry,‖ ASSOCHAM website,

http://www.assocham.org/prels/printnews.php?id=2480, accessed 20 November 2010


• Telecom infrastructure, including telecom towers and the fiber network, is expected to witness a

CAGR of 20 per cent between 2008 and 2015E to reach 571,000 towers by 2015.

• Telecom infrastructure is being considered a critical factor in India’s economic development.

Telecom infrastructure is expected to continue growing due to increasing market presence in rural

areas, upcoming 3G services, the expanding Internet market and an increase in the number of

operators with pan-India operations.

• The Indian mobile value-added services (VAS) industry is expected to reach US$ 5.8 billion by 2013,

from US$ 2.0 billion in 2009. Currently, VAS contributes 10–12 per cent of revenues for telecom

operators. This is expected to rise to 20 per cent by 2013, especially after the uptake of 3G services.

• The production of the telecom electronics and equipment segment increased by 11.7 per cent to

reach US$ 10.5 billion in 2008–09, primarily driven by a rise in the demand for wireless services in

India, which fueled demand for mobile handsets. The segment’s production is expected to reach US$

29.5 billion in 2013–14.

29

http://www.assocham.org/prels/printnews.php?id=2480

Advantage India

Market overview

Investments


Opportunities


Contents


30

Cellular Operators Association Of India (COAI)

14, Bhai Veer Singh Marg, New Delhi – 110 001, India

Tel: 91 11 23349184

Fax: 91 11 23349276/77

Website: www.coai.com

Internet Service Provider Association Of India (ISPAI)

612-A, Chiranjiv Tower, 43, Nehru Place, New Delhi – 110 019, India

Tel.: 91 11 26205411/26255094

Fax: 91 11 26255090

E-mail: [email protected]

Website: www.ispai.com

Telecom Equipment Manufacturers Association (TEMA)

4th Floor, PHD House, Opp. Asian Village, New Delhi – 110 016, India

Tel: 91 11 26859621

Fax: 91 11 26859620


Website: www.india-times.com/tema

INDUSTRY ASSOCIATIONS

Industry associations … (1/2)


31

http://www.coai.com/

mailto:[email protected]

http://www.ispai.com/


http://www.india-times.com/tema



Association Of Unified Telecom Service Providers Of India (AUSPI)

B-601, Gauri Sadan 5, Hailey Road, New Delhi – 110 001, India

Tel: 91 11 23358585

Fax: 91 11 23327397

Website: http://www.auspi.in/

Association Of Competitive Telecom Operators (ACTO)

601, Nirmal Tower, 26, Barakhamba Road, Connaught Place, New Delhi – 110 001, India

Tel.: 91 11 43565353 / 43575353

Fax: 91 11 43515353


Website: www.acto.in

Internet & Mobile Association Of India (IAMAI)

F-36, Basement, East of Kailash, New Delhi – 110 065, India

Tel: 91 11 46570328


Website: www.iwww.iamai.in

INDUSTRY ASSOCIATIONS

Industry associations … (2/2)


32


http://www.acto.in/


http://www.iwww.iamai.in/

Wherever applicable, numbers in the report have been rounded off to their nearest whole number.

Conversion rate used: US$ 1= INR 48.

NOTE

Note


33

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34

Documents

TELECOMMUNICATIONS - IBEF• Revenues of the Indian telecom industry are projected to reach US$ 45 billion by 2012, compared with US$ 33 billion in 2009. • Key players in the Indian