Key View: There has been a noticeable transition toward focusing on higher-value subscriptions, and a clear focus on operators leveraging OTT content in order to help maintain subscriber stickiness and reduce churn. This dynamic has been reflected in improving profitability in the fiscal year, with ARPUs also stabilising, although this could partly be due to the deactivation of inactive prepaid SIMs, given that more people are sheltering-in-place amidst the pandemic. We observe that 3G continues its rapid decline as subscribers latch on to LTE services, enabled through the proliferation of low-cost smartphones and feature-phones. We view that the next phase of organic growth for operators will be in rural and underserved regions, which has unsurprisingly been the target of operator investments. Operators, however, will continue to contend with burdensome taxation and regulator pressures; the Adjusted Gross Revenues-related licence dues, which amounted to an additional INR920bn (USD12.8bn), will remain the biggest short-term financial risk to operators.
Table of Contents
- Key View
- SWOT
- Telecommunications SWOT
- Industry Forecast
- Industry Risk/Reward Index
- Asia Telecoms Resilient, But Macroeconomic Challenges Present Downside Risks
- India Risk/Reward Index
- Market Overview
- Regulatory Development
Competitive Landscape
- Company Profile
- Bharat Sanchar Nigam (BSNL)
- Mahanagar Telephone Nigam Ltd (MTNL)
- Bharti Airtel
- Vodafone Idea
- Reliance Jio
- India Demographic Outlook
- Telecommunications Glossary
- Telecommunications Methodology
