Would it, though? Google tells me that India has a population of around 1.4 billion people. Let's assume each person has one phone number, and each phone number requires one kilobyte of number-mobility-related data. Then the database would need to store 1.4 terabytes of information.
1.4 terabytes doesn't seem like an impossible amount of data to store. That fits on a consumer hard drive! Dell will sell you a single server with that much memory! Request volume doesn't seem like a huge issue either, since porting a phone number is something people do extremely rarely.