India is the world's largest democracy, with 1.2 billion people and 3rd largest economy based on GDP (PPP basis). The country's GDP would grow by 7.7% in 2015-16 projected by Reserve Bank of India (RBI).
India is the world’s second largest handset and the third largest smartphone market in terms of volumes globally. Indian subscriber penetration reached 77.6% in 2014, currently around 40% of the population has a mobile device.
According to Counterpoint Research’s latest Market Monitor research India’s smartphone segment grew 21% YoY to end 1Q15, with penetration of smartphone increasing on a continuous basis reach 37% of total mobile shipments in 1Q15.
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