Verizon Business applies for ILD license

New Delhi, Feb 8: Verizon Business India, a newly-formed joint venture between Verizon Business and Videocon Group, today applied for a license to provide international long-distance (ILD) services in India.

Once the ILD license is granted, Verizon Business India will be able to provide services directly to its customers in the country, although it plans to continue working closely with its existing Indian partners.

Verizon Business currently arranges for services to be provided to its multinational customers' Indian operations through partnerships with several licensed carriers in India.

''India is widely acknowledged as a high-growth economy and is playing an increasingly important role in global manufacturing and service industries,'' Verizon Business President John Killian said.

Following Verizon's recent announcement of its participation in the building of a Pacific undersea cable, the application recognises the growth potential of Asian markets.

Receipt of the ILD license will further enhance Verizon Business' ability to provide advanced telecommunications services to multinational companies planning to expand their Indian operations, and to India-based multinationals wishing to expand globally.

''Verizon Business India will be well placed to serve multinational companies operating in the fast growing and increasingly globalised Indian economy. Through this joint venture, we look forward to helping customers achieve their global business objectives,'' Videocon Group Chairman Venugopal Dhoot said.

Verizon Business India is the trading name of a joint venture agreement between Verizon Business and Leo Communications, part of the Videocon group.

Verizon Business holds a 74 per cent stake in the joint venture, called Verizon Communications India Private Ltd, while Leo Communications holds the remaining 26 per cent.

Verizon Business India will enable companies operating in India to benefit from direct access to Verizon Business' advanced IP communications portfolio.

It plans to offer a full range of services to multinational customers, including multiprotocol label switching (MPLS), international private leased circuits and Internet Protocol Virtual Private Networks (IP VPNs).

The company already owns and operates one of the most expansive IP backbone networks in the world, and provides voice, data and internet services to customers in more than 2,700 cities and 150 countries worldwide.

Verizon Business, a unit of US-based communications service provider Verizon Communications is a leading provider of advanced communications and information technology (IT) solutions to large business and government customers worldwide.

UNI