Mumbai, Mar 2 : Virgin Group entered into the Indian telecom market by inking a 'brand franchise' agreement with Tata Teleservices (TTSL) under which Richard Bransons group will provide value-added services to the Tata Group arm aiming at the youth. nnouncing the launch here, Branson said in three years the company would target to rope in five million subscribers in the youth segment and to reach break even. He, however, did not mention the investment company is putting in.
"India is an exciting market. There are more than 215 million Indians aged between 14-25 years. Over the next three years, we expect this segment to be adding over 50 million new youth subscribers and to have revenues of over Rs 350 billion. We will target 10 per cent of the urban youth market," Branson said.
The UK-based company, he said, would bring in '10 telecom industry firsts' to the Indian telecom market which includes getting payment for receiving calls, one-touch VAS access from every Virgin Mobile-branded market and 'call more for less' among others.
Virgin's entry into the telecom sector faced rough weather as the GSM players lobby Cellular Operators Association of India had shot a letter recently to the Department of Telecom seeking its view on whether Mobile Virtual Network Operator (MVNO) was allowed in the country.
Virgin acts as an MVNO in all its existing six Markets in the world.