Parsvnath Developers to launch mobile services in India!

If telecom players in India can enter the retailing sector, the real estate companies are now planning to enter the telecom market.

Parsvnath Developers is one such company which has now announced their plans to offer mobile-phone and Internet services in the Indian market.

The company is planning to invest around $414 million on these operations and they have already submitted their applications to get telecommunications service licenses in all 22 zones in the country.

Parsvnath Chairman Pradeep Jain said in a statement on this decision: “Despite increasing number of subscribers, the penetration of mobile telephony in India is still very low.”

India happens to be one of the fastest growing mobile markets in the world and Vodafone recently became the latest global giant to mark its entry in India by acquiring a stake in Hutch Essar.