NTT Docomo expects its Indian joint venture with Tata Teleservices (TTSL) to be profitable in three years and would consider further investment in the world’s fastest-growing mobile market, according to an Economic Times report. “We are currently satisfied with our 26 percent stake but no one knows what the future might hold… we might increase our stake,” said Toshinari Kunieda, senior vice-president and managing director of the Japanese operator’s global business division. Mr Kunieda added that predicted consolidation in the Indian market could see the venture acquire a rival, and ruled out exiting the business anytime soon even if lucrative offers arise. “The Tata group fits well with our corporate culture. We give a lot of importance to the corporate culture and once we enter a market, we usually are in [it] for the long term,” he told the Economic Times.

Docomo bought its stake in TTSL for US$2.7 billion last year with initial plans to invest US$2 billion in a new GSM network. Tata Docomo, the GSM brand of TTSL, launched commercial operations in June with per second billing to prepaid customers and expects to cover almost all of India by the end of the year. TTSL is traditionally a CDMA operator and has built up a CDMA connection base of 37 million.