The Indian telecom firms are increasing their retail presence in the country, despite the looming threat of recession, and are expected to invest around Rs 1,000-1,500 crore (Rs 10 to Rs 15 billion) over the next two years.
The industry estimates the robust subscriber addition of 9 million per month to continue, if not increase, for the next two years.
The cost cutting efforts by corporates, like restricting travel, would also be beneficial to the industry.
"We expect the retail sector to buck the trend, even though there will be a minor impact in the short-term due to the initial sentiment of the financial crisis.
Looking ahead, we see the robust growth of the industry to continue, which would mainly come from the rural and semi-urban sectors," HotSpot CEO Sanjeev Mahajan told
Business Standard.
HotSpot, the multi-brand technology retail chain of the Spice group, will increase its presence to around 3,000