BT and Tech Mahindra think India has strong potential

"We expect revenues from India to reach a quarter of a billion dollars" from less than $100m today said Andy Green, the firm's chief executive.

The news came as shares in an Indian joint venture between BT and Mahindra & Mahindra made a successful debut on the stock exchange in Mumbai on Monday.

Shares in the firm, Tech Mahindra, rose by as much as 55% when they listed.

Huge opportunity

"We are very pleased with this response and now we have to keep up with the expectations of the shareholders," Anand Mahindra, chairman of Tech Mahindra.

"There is a huge opportunity [in India]" said Tech Mahindra's chief executive Vineet Nayyar.

BT holds a 36% share in the alliance, which over the next three to five years will be reduced to 30%, said Paul Ringham, BT's corporate finance director.