Last year this time, the telecom industry was at an inflexion point with Bharti Airtel Chairman Sunil Mittal noting then that tariff hikes were the only way forward for the industry. Fast forward to now, his statements are well validated as telecom density and absolute subscribers have declined over the last year. The revenue growth and profitability metrics for the key players have been driven by APRU growth rather than increase in subscriber base. With India now at the cusp of a 5G revolution after telco players recently made initial payments for 5G spectrum, the next wave of growth is also likely to come from higher tariffs. Here is peak into the telecom landscape as it stands today.