It ensures industry to invest fearlessly
Says reforms pave the way for a sustainable 3 private plus 1 state-owned telecom operator structure to serve a large market like India
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Nxtra Data Ltd a Airtel subsidiary acquires 11.33% stake in Avaada KNShorapur
New Delhi: Telecom operator Bharti Airtel Chairman Sunil Mittal on Wednesday said the telecom sector reforms approved by the Cabinet will ensure that the industry is able to invest fearlessly, and the company will respond to PM Modi's call to invest and accelerate the country's growth.
Among a series of breathers for the stressed telecom sector, the Cabinet has approved the inclusion of revenues earned only from telecom services in the adjusted gross revenue (AGR), and the removal of penalty on dues to be paid to the government prospectively.
Mittal congratulated and thanked the government for undertaking these seminal reforms to lift an industry that is at the core of his Digital India vision. "The latest reforms ensures that the industry is able to invest fearlessly and support India's digital ambitions. We also compliment the Minister of Communications and the Finance Minister for their leadership and support," Mittal said in a statement.
The government on Wednesday also gave a four-year moratorium to pay government dues but with interest. "Bharti Airtel is fully committed to responding to the call by the Prime Minister to invest in and accelerate India's growth. What lies ahead is a once-in-a-lifetime opportunity to build the digital infrastructure that is a catalyst for the digital aspirations of over one billion Indians," Mittal said. The telecom operator said that the reform package heralds a new dawn for the Indian telecom industry and will catalyse explosive growth of this vital sector.
