INDIA
Take a moment and look around when you’re in a metro, bus, or even at a restaurant with family—most people will have their heads down, engrossed in their smartphones. While India's economy faces challenges like slowing growth and weaker consumer spending, one industry remains unaffected—smartphones and digital platforms. As people spend more time online, social media influencers, businesses, and streaming services are seeing massive profits.
Take a moment and look around when you’re in a metro, bus, or even at a restaurant with family—most people will have their heads down, engrossed in their smartphones. While India's economy faces challenges like slowing growth and weaker consumer spending, one industry remains unaffected—smartphones and digital platforms. As people spend more time online, social media influencers, businesses, and streaming services are seeing massive profits.
India’s Digital Boom
With smartphones becoming more affordable and frequent online sales by e-commerce platforms, India is seeing a rapid increase in internet usage. According to a report by EY, Indians collectively spent 1.1 lakh crore hours on their smartphones in 2024. On average, people spent five hours a day on their phones, with nearly 70% of the time dedicated to social media, gaming, and videos.
This shift has transformed India’s media and entertainment industry, which is now worth Rs 2.5 lakh crore rupees (USD 29.1 billion). For the first time, digital channels have overtaken television as the biggest segment. Despite spending slightly less time per day on mobile phones compared to Indonesia and Brazil, India’s sheer population makes it the largest smartphone market globally, attracting tech giants like Meta, Amazon, Mukesh Ambani’s Jio, and even Elon Musk.
The Rise of Content Creators and Digital Shopping
As screen time increases, businesses are changing how they reach customers. Instead of relying on TV ads and billboards, brands are focusing on social media ads, influencer marketing, and interactive campaigns. Big Bang Social CEO Sudeep Subash highlights how social media has become a digital shopping mall, influencing what people buy, where they shop, and even how they form opinions.
Platforms like JioHotstar, the newly merged streaming service from Disney+ Hotstar and JioCinema, have already gained over 100 million paid subscribers in just two months. Meanwhile, India’s creator economy is booming, with thousands of influencers making money by posting everything from daily vlogs to adventure trips. The government has even launched a USD 1 billion fund to support digital creators.
AI, 5G, and India’s Growing Data Consumption
Artificial Intelligence (AI) is also transforming the way ads and content reach users. Companies track what people watch, skip, and buy, using AI to create personalized advertising that feels more relevant and engaging.
Meanwhile, India's 5G adoption is skyrocketing. Reports show that India has the highest mobile data consumption per user globally, with an average usage of 21.2 GB per month. Nokia’s Mobile Broadband Index suggests that 5G usage has tripled in 2024, with an expected 77 crore subscribers in the next three years.
Make-in-India Push for Smartphones
With 14.5-15 crore new smartphones sold annually, India is the second-largest smartphone market after China. Thanks to the government’s "Make-in-India" initiative, brands like Apple, Vivo, and Xiaomi are expanding their manufacturing units in India.
A decade ago, India produced only 25% of the mobile phones needed for its market. Today, 97% of smartphones sold in India are made domestically, with total production reaching Rs 4.1 lakh crore (USD 49.27 billion) in FY24. India has now become a major export hub for iPhones and other smartphone brands.
The Digital Dilemma
India’s digital story is still evolving. As people continue to spend more time glued to their screens, businesses will keep adapting. However, the big question remains—are we controlling our digital habits, or are they controlling us?