India adds 10M mobile subscribers as the world sees economic slowdown

 

The New York Times recently reported that India added 10.07 million new mobile subscribers in September. This brings into question whether the overall Indian economy is suffering due to the global economic meltdown or is it only certain pockets of industries that have been outsourced that will feel the burn?

Throughout Europe and N. America it is apparent that consumer discretionary spending has spiraled downward since the beginning of 2008, first due to rising fuel costs, and then later due to financial markets crashing. 

However, India just might pull out of this without a major disruption to their economic cycle. If they have just added 10M new mobile subscribers last month then all is in line with estimates that this country still has great growth potential. A younger population, teamed with rising middle class, can continue to showcase their purchasing power to the world. 

Image:CNN