Zee TV fueled the rush into broadcast media

India's busy satellite TV industry traces its origins to a visit nearly 22 years ago by a Punjabi rice trader to the Mumbai office of national broadcaster Doordarshan. Subhash Chandra, worked around rules that gave Doordarshan a monopoly, by beaming 'Zee TV'-branded Indian content from Hong Kong in October 1992.

The laws eventually changed and, today, there are more than 600 channels in India stoking aspirations even in corners that have no water or tarred roads. "Today, everyone wants to come into this business without realising the complete dynamics," Chandra says of the rush into broadcast media. "Over the next 10 to 15 years, I see a lot of consolidation happening."

By Anusha Subramanian, Anand Adhikari, K.R. Balasubramanyam, Rajiv Bhuva, Josey Puliyenthuruthel,G. Seetharaman and Sunny Sen