Indian telecom sector set to lose 1,50,000 direct and indirect jobs.

As per media reports, nearly 1,50,000 direct and indirect jobs are likely to be wiped out in the telecom industry. This is due to the ongoing crisis, being witnessed in the telecom sector. Each telecom company is cutting down it's tariff rates, in a bid to safeguard it's customer base. This tariff war was triggered by the entry of the Reliance Jio. According to sources, Rs. 8 lakh crore is the debt of the various telecom companies. Till some time back, telecom was considered to be one among the top five employment generators of the country. According to the Annual Report of the Department of Telecom for the year 2016-17, the telecom sector was contributing for 6.5% of the GDP, which was equivalent to 140 billion US dollars, and it was employing 40 lakh employees, directly and indirectly.