JOINT FILING AGREEMENT AMONG PANATONE FINVEST LIMITED, TATA SONS LIMITED, TATA INVESTMENT CORPORATION LIMITED, THE TATA POWER COMPANY LIMITED, THE TATA IRON AND STEEL COMPANY AND TATA INDUSTRIES LIMITED

EXHIBIT 15

JOINT FILING AGREEMENT
AMONG
PANATONE FINVEST LIMITED,
TATA SONS LIMITED,
TATA INVESTMENT CORPORATION LIMITED,
THE TATA POWER COMPANY LIMITED,
THE TATA IRON AND STEEL COMPANY
AND
TATA INDUSTRIES LIMITED

     In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the following: (i) the joint filing on behalf of each of them of a statement on Schedule 13D (including subsequent amendments thereto) with respect to the Equity Shares, par value Rs. 10 per share, of Videsh Xxxxxxx Xxxxx Limited, a limited liability company organized under the laws of the Republic of India (the “Schedule 13D”), and (ii) the inclusion of this Joint Filing Agreement as an exhibit to such joint filing, provided that, as contemplated by Section 13d-1(k)(ii), no person shall be responsible for the completeness and accuracy of the information concerning the other person making the filing unless such person knows or has reason to know that such information is inaccurate. This Joint Filing Agreement replaces the joint filing agreement dated February 15, 2002 between Panatone Finvest Limited and Tata Sons Limited, which was previously filed as Exhibit 1 to the Schedule 13D on the same date.

     The Joint Filing Agreement may be executed in any number of counterparts all of which together shall constitute one and the same instrument.

     IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of this 25th day of July, 2003.

	PANATONE FINVEST LIMITED
By:	s/ X.X. Xxxxxxxxxxxx
	Name: X.X. Xxxxxxxxxxxx
	Title: Director
	TATA SONS LIMITED
By:	s/ X.X. Xxxxxxx
	Name: X.X. Xxxxxxx
	Title: Senior Vice President, Finance
	TATA INVESTMENT
	CORPORATION LIMITED
By:	s/ X. X. Xxxxxx
	Name: X. X. Xxxxxx
	Title: Executive Director & Secretary
	THE TATA POWER COMPANY
	LIMITED
By:	s/ Xxxxxx Xxxxxx
	Name: Xxxxxx Xxxxxx
	Title: Vice President (Finance)
	THE TATA IRON AND STEEL
	COMPANY
By:	s/ X.X. Xxxx
	Name: X.X. Xxxx
	Title: Company Secretary
	TATA INDUSTRIES LIMITED
By:	s/ X.X. Xxxxxxxxxxxx
	Name: X.X. Xxxxxxxxxxxx
	Title: Senior Vice President, Finance,
	and Company Secretary

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