 "Netfix launches video streaming service in India")
US-based streaming video service Netflix will launch services in India, wire agency Reuters said in a tweet late Wednesday night.
The service will reportedly be available for Rs 500 a month, the tweet added.
Industry executives have for some time been expecting Netflix Inc to reach movie-mad India as part of its global expansion plans, especially as high-speed Internet connectivity is rapidly spreading among a vast population used to paying pennies for their latest Bollywood fix. Additionally, slowing growth at home in the United States has put pressure on Netflix to grow internationally and India, a fifth of the country's 1.3 billion people are online, was widely seen as a likely next step in Asia. Additionally, the growth of 4G enabled smartphones is on the rise, with the launch of Reliance Industries' 4G data services -- Reliance Jio -- expected to be a game changer for the telecom industry.