In this study, I have selected this topic to reveal the facts and developments done in the field of telecommunication after liberalization. Due to privatization of telecom industry in India the competition has been increased. To note down the consequences of privatization by the consumer satisfaction level, quality and cost of services are the parameters of comparison. Hence it has been noted that liberalization has a positive effect on the telecom industry. The research has been written to help clients in analyzing the opportunities critical to the growth of telecom market. Detailed data and analysis will help investors to comprehend the rapidly changing dynamics of the telecom industry.