British Telecom PLC will float a joint venture in India to provide high quality data and voice transfer VPN service to corporate clients in Mumbai.
The company plans to set up the JV, in which BT would hold 76 per cent stake, within six months to offer Virtual Private Network Service, BT CEO (Global Sevices) Andy Green said in Mumbai, on Monday.
"We are in the process of getting necessary regulatory clearances... And are going to apply for license in India... Currently, we are scouting for a strategic partner for a joint venture kind of operation," he said.
BT plans to provide Virtual Private Network services, a highly secured network service to focus on managerial and enterprise services to corporates.
Asked about the investment size, Green said it would be 'huge', but declined to divulge further details regarding the partner and the investment plans.
"This is a different ball game...We are very serious about this and India is a crucial market for us," Green said.
The company plans to provide services to corporates and Green ruled out any possibility that BT would make its entry in India as a telecom service provider.
BT has a wholly owned subsidiary in India and employs close to 12,000 people, with plans to increase its headcount by 50 per cent over the next three years and expects 150 per cent increase in revenues from the country.
"We are generating revenues to the tune of USD 100 million from India. This is expected to grew up to USD 250 million in three years and we will be increasing our employee strength by 50 per cent," Green said.