It was only by end of February that the Foreign Investment Promotion Board (FIPB) allowed Telecordia, a a privately held company to bring in 74% foreign investment in MNP. The company already has a presence in India, and has been associated with Tata Teleservices.
There is a one time, non-refundable, entry fee of Rs. 1 crore for the license, and the licence fee is one percent of Adjusted Gross Revenue (AGR) of the licensee Company. There is no license fee for first two
years.
The south and east regions, comprising of 11 licensed telecom service areas, two of which are metro service areas, are grouped as zone 2 for the purpose of MNP implementation. MITS will manage this zone for a period of five years.
"Telcordia has a firm commitment to the Indian market and today’s announcement is a testament to the DoT’s confidence in us to be able to deliver an effective solution to ensure prompt roll out of MNP Services to the Indian consumers. We will be initiating the process of fulfilling the necessary guidelines set out by the DoT in the letter,"
said Telcordia India representative Ashok Sapra.
According to the letter of intent received by MITS on Thursday, company is expected to implement MNP solutions in all southern metros and 'A' circles six months from the date of issue of the license. In the second phase, all circles in these regions will get MNP in the consecutive six months. The whole process is expected to be completed
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