The name change is widely believed to be a sign that BT will eventually exit the joint venture or reduce its stake holding. However, MBT's chairman Anand Mahindra and vice-chairman Vineet Nayyar, said the name change was a reflection of its diversified client base, especially after its recent acquisition of Axes Technologies.
BT Group, Group Strategy Director, Clive Ansell, said the UK-telcommunications firm had no immediate plans to set up captive facilities in India for IT or ITeS.
Outsourcing contracts from BT account for nearly 2% of the country's IT sand ITeS exports, BT India chairman, Arun Seth, who is also on the board of MBT said.