Telecomm business in India:

This business appears to be saturated since nearly everybody in India already possesses mobiles. A few of the people may have 2 connections or even more, billing cannot be charged in premium as we know because of less per capita income.
Telecom tariffs in India are the lowest in the world. It’s largely a 3 player industry. 1 player fixes the price of the entire sector and the other player attempts to provide the premium services to the premium customers at a slight cost.
Since the expansion is not possible anymore in the telecom industry now the products cross selling have been initiated with the telecom services such as OTT subscription, AI services, TV Channels subscription, Music services etc.
More expansion can be done in the landline which is already bundled with the services.

Future growth relies on services pricing power which is a limitation that can generate public outcry, can drive in a new Telecomm operator or Existing operator can be taken over by a new player or in alliance and again prices will decline.

Briefly the Telecom business has reached saturation point, only existing users can switch operator from time to time, pricing is a limitation in India.