The Indian radio industry evolved from the Radio Club of Bombay in 1923 to becoming All India Radio in 1936 under government control. Private FM stations were introduced in 1999 and have since grown, with phases 2 and 3 expanding FM coverage across India. Key events included the establishment of the Indian Broadcasting Company in 1926, taking over by the government in 1930 to form the Indian State Broadcasting Service, and transition to Prasar Bharati Corporation in 1997.