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With proliferation of telecom network and emergence of new business models in the sector, India could be home to 500 million smartphones very soon, Telecom Minister Ravi Shankar Prasad said.
"India is changing and evolving for good every second. The government is connecting 2,50,000 gram panchayats with optical fibre and very soon India will be home to 500 million smartphones. These initiatives are bringing people together for mutual growth," Prasad said at Mindmine Summit.
At present, there are about 400 million Internet users in the country and most of them are accessing the service through their phones.
As per market research firm IDC, smartphone shipment in India in a single quarter of 2015 was about 28 million.
Prasad said that soon numerous initiatives including virtual mobile networks which will help consumers not just get more choices for voice and data services, but also allow telecom companies to monetise unused airwaves.
Speaking at the event, NITI Aayog CEO Amitabh Kant stressed on building world-class infrastructure to achieve and sustain 9-10 percent GDP growth over the next few decades.
"Logistics is extremely critical, it must be made efficient. New freight corridors will play critical role.
Therefore, India needs to plan and invest in mega-transportation hubs which will ensure greater, faster and more efficient transportation of goods and people from across the country," Kant said.
Chief Economic Advisor Arvind Subramanian said that big companies are coming to India that have huge job creation opportunities.
"Big companies, companies with big employment potential are coming to India. I think these companies will flourish or will say they can flourish if there are more changes in labour laws," Subramanian said.
He said that democracy in the country itself throws up solution by rewarding government that works.
On a question over RBI's lower-than-expected rate cut, he said, "RBI isindependent. While we can have analytical differences, but I think finally its part of system that we have of checks and balance that we allow RBI freedom to take decision. Actually we have to believe in it and I do.
India to be soon home to 500 million smartphones: Prasad
"India is changing and evolving for good every second. The government is connecting 2,50,000 gram panchayats with optical fibre and very soon India will be home to 500 million smartphones. These initiatives are bringing people together for mutual growth," Prasad said at Mindmine Summit.
At present, there are about 400 million Internet users in the country and most of them are accessing the service through their phones.
As per market research firm IDC, smartphone shipment in India in a single quarter of 2015 was about 28 million.
Prasad said that soon numerous initiatives including virtual mobile networks which will help consumers not just get more choices for voice and data services, but also allow telecom companies to monetise unused airwaves.
Speaking at the event, NITI Aayog CEO Amitabh Kant stressed on building world-class infrastructure to achieve and sustain 9-10 percent GDP growth over the next few decades.
"Logistics is extremely critical, it must be made efficient. New freight corridors will play critical role.
Therefore, India needs to plan and invest in mega-transportation hubs which will ensure greater, faster and more efficient transportation of goods and people from across the country," Kant said.
Chief Economic Advisor Arvind Subramanian said that big companies are coming to India that have huge job creation opportunities.
"Big companies, companies with big employment potential are coming to India. I think these companies will flourish or will say they can flourish if there are more changes in labour laws," Subramanian said.
He said that democracy in the country itself throws up solution by rewarding government that works.
On a question over RBI's lower-than-expected rate cut, he said, "RBI isindependent. While we can have analytical differences, but I think finally its part of system that we have of checks and balance that we allow RBI freedom to take decision. Actually we have to believe in it and I do.
India to be soon home to 500 million smartphones: Prasad
