DishHD, please validate your facts before forming a theory and opinion. All LCD/LED TVs including the UHD or 4k ones still have a native motion resolution of only about 300 lines out of 1080 or 2160!
And infact "LED" TVs usually have worst picture uniformity and viewing angles though they usually use higher end LCD panels.
All LCD TVs display is fake, superficial picture and display it with the help of a backlight (CCFL or LED). As Plasma (like CRT TVs) are naturally aspirated like the OLED TVs, they are way superior in terms of color range (gamut), motion resolution, viewing angle, etc and display natural colors and picture quality is usually way superior especially for high motion content like action, sports scenes.
So the bottom like as many have already clarified (special thanks to Sanjay who nailed it accurately), there are NO "LED TVs" in the market and its a FRAUD marketing campaign by the TV manufacturers to lure unsuspecting customers like you.
I am unaware of any channel broadcasted in India in 720p (all are 1080i from source) unless I missed something. Where did 720p come from?
Talking about bandwidth, I believe 1080p @24p/25p should consume similar bandwidth as 50i we get currently. So its just a standard followed by the broadcasting industry and doesn't really a bandwidth concern.