The Centre has begun working on a new telecom policy that willprovide an enabling environment for growth of the fintech industry in the country.
The Department of Telecom (DoT) has kick-started the consultation process by meeting operators, infrastructure providers, industry associations, and standards bodies. The department is in the middle of formulating a National Telecom Policy that will focus on areas such as Internet for all, next-generation technologies (like 5G and Internet of Things), skill development and security, among others.
DoT plans to go for a wide consultation and outreach before finalizing the new policy and expects to have it in place by March 2018. The new policy formulation comes at a time when the sector is saddled with financial difficulties. Revenue and profitability of both large and small operators have come under severe pressure after the entry of aggressive newcomer Reliance Jio and the subsequent free data and voice offerings.
The National Telecom Policy, 2012, had taken key steps such as full mobile number portability, liberalization of spectrum, and allowing delinking of spectrum from license, among others.