India expects to unveil a new telecoms policy in January, the country's telecoms secretary R Chandrasekhar told reporters on Friday.

India:

India: New Telecoms Policy

The country will let cellular carriers share airwaves and allow for consolidation in a crowded industry that has been battered by ferocious competition as well as a licensing scandal that may have cost New Delhi up to $39 billion in lost revenue, according to the draft telecoms policy last month.

It is in the process of issuing notices to 35 licence holders for not meeting rollout obligations, Chandrasekhar added.

The telecoms regulator has recommended to the government that it cancel 38 licences for failing to meet rollout obligations and 31 others, but only after legal examination. Telecoms minister Kapil Sibal has said there are a total 119 licensees that did not meet rollout obligations.