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and Unitech, which compete in unrelated sectors such as realty and financial services, have applied for telecom licenses. Even foreign players have jumped on the bandwagon and now are vying for a slice of the license pie. One prominent player is AT&T Inc., the U.S. telecom giant, which has linked up with Mahindra Telecom to bid for the licenses.
India is the world’s fastest-growing telecom market. iSuppli estimates that the number of new mobile handset subscriptions will soon pass 8-9 million per month. Currently, 19 percent of the India's 1.12 billion people use wireless phones, compared with 37 percent in China and 56 percent in Brazil, two other developing nations...
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