Virgin Group plans to enter the Indian mobile phone market and will announce details of the new venture possibly within a month, group chairman Richard Branson said on Sunday.

While Branson did not comment on a possible tie-up with Tata Teleservices, he said: “It is true we are planning a mobile phone business and we hope we will be able to announce it within the next month or two.”

Talking to reporters on the sidelines of a function here, Branson said the company was still working on its telecom plans. He had expressed his group’s intention to foray into the Indian market during his visit here in December 2007.

“I am coming back again in three weeks time and on that occasion I may have more to say on the business ventures. On this trip I am not doing any business. I am supporting the UK Prime Minister’s visit and meeting a lot of entrepreneurs.”

Branson is part of the business delegation accompanying British premier Gordon Brown on a visit to India.

He further said Brown would discuss with the Indian Prime Minister the need to free up all restrictions for trade between the two countries, aviation being one of the areas to be discussed between the two sides. “There should be no barriers to the entry of any company …this is in the interest of the consumer that there are no barriers to entry.”

Hoping that there would be a domestic airline from Virgin, Branson said, “Competition makes sense.” India currently does not allow foreign companies to buy stake in domestic carriers, although individuals can do so. Virgin Group has previously said it was interested in picking up a stake in Indian carriers

Source: ET