From the archive record
On the eve of Prime Minister Atal Bihari Vajpayee's visit to the United States, the cabinet committee on economic affairs abolished Videsh Sanchar Nigam Limited's monopoly on international voice traffic by 2002 instead of April 2004 deadline. VSNL is a public sector undertaking holding a 53% stake, foreign investors owned 30% and the rest is held by Indian financial institutions and public. This decision of advance lifting of VSNL's monopoly by 2 years follows the government's earlier decision to open the STD segment to private participation. However many feel the timing of the deregulation in the telecom sector was a move to send out right signals to the international community ahead of PM's U. S. visit but according to IT experts it is a golden path leading towards consolidating India's