Indian telecom mkt to be at Rs 3.4 lakh cr by 2012

The Indian telecom industry is expected to reach a size of Rs 344,921 crore by 2012 at a growth rate of over 26%, and generate employment opportunities for about 10 million people during the same period, according to a report.

The telecom industry had a market size of Rs 105,287 crore in 2006.

The sector would create direct employment for 2.8 million people and for 7 million indirectly, according to a Frost and Sullivan report.

"This growth is expected to be fuelled by addition of 400 million subscribers as well as by growth of ARPU from applications facilitated through VAS services," the report said.

India currently has 250 million telephone subscribers and the numbers are expected to reach 500 million by 2010 and 650 million by 2012.