British billionaire Sir Richard Branson has finally launched his telecom brand “Virgin Mobile” in India under a franchisee agreement with CDMA major Tata Teleservices.

Under the deal, Tata Teleservices, which is the second largest CDMA operator with 22 million customers, will sell the mobile service under the brand name of Virgin Mobile to target young consumers. The venture will offer music, entertainment and news about Indian film industry, sports and stock market.

This is Virgin Group's seventh launch after Australia, Canada, France, the UK, the US and South Africa, and the investment would be the largest in the country.

The company has launched six handsets, including dual screen phones and bolt-on schemes at competitive rates. The company plans to launch its service in 50 cities, expanding to more than 1,000 cities by December.

The country's booming mobile market is attracting multinational mobile services companies to invest in the market. Last year Britain-based Vodafone, the world’s largest mobile firm, had acquired a majority stake in Hutchison Essar, a large Indian network operator and services provider for 11.1 billion dollars.