Cellular Operators' Association of India (COAI) Director General, Rajan S Mathews said that the recent results announced by the telecom companies are not an indication of a healthy growth of the sector.
"He said, "The recent results announced by the telecom companies are not an indication of a healthy growth of the sector. Immediate policy-level interventions are required to uplift the financial health of the sector and to ensure that we move in the right direction of pursuing our national goals.
"He also lauded the government's decision for setting up an inter-ministerial committee to look into the financial health of the sector, COAI urged the government to take concrete steps that will improve the situation.
Mathews also underlined the fact that the Reserve Bank of India (RBI) recently issued the advisory to all the banks to re-assess the debt bearing capability of the telecom sector.
Mathews added, "On the occasion of World Telecommunication and Information Society Day today, COAI proudly announces the theme of Indian telecom industry for the year as "Telecom & Connectivity as tools for Accelerating Human Development in India" and by 2020, the contribution of mobile industry to the country's GDP will increase to 8.2 percent from the current 6.5 percent.
"It is also expected to generate four million direct and indirect jobs over the next five years. Globally, we will also have between 26 billion and 50 billion Internet-connected devices by 2020." he further added.
Meanwhile, COAI said that over Rs. 9,27,000 crores have been invested so far by telecom service providers in building world class telecom infrastructure. Adding that total internet subscribers in India are 261.31 million as per TRAI data.
COAI also announced the schedule of Indian Mobile Congress to be held in September 2017.