British Telecom has recorded a 39% growth in revenues from its Indian operations in 2007-08 on a year-on-year basis.
While the company did not release specific revenue figures, it has been targeting revenues of $250 million by 2009.
BT has estimated that the Indian networked IT market is set to grow to $30.7 billion by 2010.
VeriSign, meanwhile, wants to carve out its own slice of this pie.
The company has partnered with IP communication services provider Net4 to develop secure e-commerce solutions for Indian businesses.
Under the agreement, Net4 will be providing customers India-wide with VeriSign Secure Socket Layer (SSL) security certificate solutions.