5G subscribers in India at 159 million: Bank of America global research

India currently has 159 million 5G subscribers, or a penetration of 15 per cent, a report by Bank of America Global Research said on Friday.

The report says this figure could grow to more than 490 million subscribers (42 per cent penetration) by 2028. 5G user growth has surpassed expectations over the past few months.

In December, the government had announced that 100 million subscribers had been reached.

The report also stressed that there may be one tariff hike in the second half of 2024. Medium-term Average Revenue Per Users (ARPUs) are likely to reach Rs 250 and would reach Rs 300 over five to seven years, it said.