[dsushant]

Internet penetration in India is at the lower end of your estimate - 124 million in 2012 (1).

In contrast, the wireless subscriber base was 875 million in 2013 (2).

Source: 1. “Reimagining India: Unlocking the Potential of Asia's Next Superpower” by McKinsey; Published 2013 2. TRAI: Highlights on Telecom Subscription Data as on 31st October, 2013