Singapore: The Tatas-controlled Videsh Sanchar Nigam today (Nov 4, 2004) said it would invest Rs 2,000 crore during the current fiscal to expand and consolidate and asserted that rivals Reliance and Sunil-Mittal promoted Bharti did not pose any threat to its leadership position in the international telecom business.

"We will maintain our leadership position," Executive Director of VSNL's International business group, Vinod Kumar, told visiting reporters when asked about the threat perception to Tatas' leadership position from rivals Reliance and Bharti.

"We have operational experience which is not easy for them (rivals) to recreate. We have relationship with carriers and enterprise customers. Moreover, the Tata brand and its reputation will help," he said asserting the group had resources and financial commitment to "stay ahead" in the game as far as international presence is concerned.

He, however, clarified that VSNL was not underestimating the rivals and in fact had respect for them.

Giving details of investment of $230 million being made for acquisition of Tyco Global Network and Tata-Indicom Singapore Chennai cable, launched yesterday (Nov 3, 2004), Kumar said VSNL, acquired by Tatas from the Government three years ago, would make "capital expenditure of Rs 2,000 crore during the current fiscal".

Admitting that returns on huge investments being made by Tatas in VSNL were still to fructify in terms of returns he said, "We want to see returns quickly but we can't transform overnight."