In the old days—which in the hurly burly of Asian telecommunications means two years ago - China was the place to be. For more than a decade, the Middle Kingdom enjoyed dazzling, double-digit growth, attracting huge foreign investment and making it the world's largest telecommunications market. Today, 2,500 miles west and south in South Asia—India, Pakistan and Bangladesh—the real buzz and expansion in Asian telecoms was taking place. "In India, the growth is just mind-blowing," says Rohit Sobti, co-head of Asian telecom research at Citigroup Investment Research in Hong Kong. He notes that the customer base of just one Indian firm, Bharti Tele-Ventures Ltd., grew by an astonishing six million subscribers in just one year with a whopping 50 percent earnings growth.
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