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$1 billion Credit For Indian telcos

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ZTE Corporation has partnered with China Development Bank to make available a significant portion of a $15-billion global credit line for Indian telecom service providers for buying equipment and handsets from the Chinese company. More than $2-3 billion credit support can be expected for Indian operators. This move from ZTE will help Indian operators to buy equipment, it will also enable the Chinese company to enhance its market competitiveness in India currently dominated by European suppliers including Nokia Siemens and Ericsson.

This initiative holds significance for the new players who are set to launch services in the country. Existing players have also drawn up large-scale expansion plans to offer 3G services and penetrate rural markets.

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