Economy

Total telephone subscriptions increased from 1,348.08 million at the end of June to 1,354.28 million at the end of July 2026, an addition of approximately 6.20 million connections in one month. This represented monthly growth of 0.46%. Wireless connections, including mobile and Fixed Wireless Access services, accounted for the overwhelming majority of the market, rising by 6.02 million to 1,306.27 million, while the wireline base increased by around 185,000 connections to 48.01 million.

This effectively shifts the customer interface away from the physical card and towards UPI. The card remains important as the underlying credit instrument, but from the consumer’s perspective it becomes less visible because the same familiar payment experience can be used whether the money comes from a bank account or a credit line.