The competitive telecom market in India will get tougher as new players roll out their networks. Videocon Inc says it will start rolling out its telecom network from mid August and is eyeing a market share of about 10 per cent the Indian telecom market in five years.
"The group is aiming at 50 million subscribers in five years. The Indian market will have crossed 500 million by then," Chairman Venugopal Dhoot said on the sidelines of a local conference, according to Business Standard.
Videocon, which has got a licence for pan-India operations, has got spectrum in three circles and is awaiting for the rest.
Videocon has been approached by Middle East telecom firms Emirates Telecommunications Corp of the UAE and Qatar Telecom for tie-ups in India, Dhoot said.
The firm had appointed investment bank Morgan Stanley to advise it on the telecom business and any potential stake sales, he said.
Earlier, the electronics major had also expressed confidence about acquiring Motorola Inc's handset business.
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