Nandini Lakshman – India has 200 million mobile phone users and 7 million are added to the rolls each month. For top telecom players such as Bharti Airtel, Reliance Communications, Tata, and Vodafone, ringtones account for nearly half of all nonvoice revenue.

Downloadable ringtones are already a $45 million annual business in India and are expected to grow at a double-digit rate through 2010. Link.

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