FIPB approves SSTL’s application for NLD licence

India’s Sistema Shyam TeleServices (SSTL), which offers its services under the MTS India banner, has had its application for a national long-distance (NLD) licence approved by the Foreign Investment Promotion Board (FIPB). According to the Business Standard, a spokesperson for the telco, which is a joint venture between Russia’s Sistema and the local Shyam Group, noted: ‘To remain competitive in the market in terms of carriage cost and to also offer a world class service to its customers, acquiring a national long-distance licence for a pan-India telecom company like SSTL assumes a lot of significance.’