India can have 500 mn smartphone users: Ravi Shankar Prasad

With the proliferation of telecom network and emergence of new business models, India could be home to 500 million smartphones very soon, said, telecom minister Ravi Shankar Prasad, PTI reported.

"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.

Currently India had around 400 million internet users and most of them accessed the service over their phones.

As per market research firm IDC, smartphone shipment in India in a single quarter of 2015 was about 28 million.

According to Prasad numerous initiatives including virtual mobile networks which would help consumers not just get more choices for voice and data services, but also allow telecom companies to monetise unused airwaves would be launched.

Speaking at the event, NITI Aayog CEO Amitabh Kant stressed on setting up world-class infrastructure for achieving and sustaining 9-10 per cent 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.