Despite the slowdown, Sunil Bharti Mittal, chairman of Bharti Airtel, said the company will be continuing with its annual target of investing Rs 20K Crore in the business.
"We typically invest Rs 20K Cr in telecom every year, and we will continue to do so"said Mittal in meeting with Commerce and Industry Minister Piyush Goyal. He has discussed all the issues and sought the government's support for the clearances as faster as possible to streamline the group's investment plan. He said that he was glad that the authority had paid attention to the requests of the industry, while commenting on the one year extension given by the Telecom Regulatory Authority of India(TRAI) to IUC regime.
The scrapping of charges paid by mobile phone users for calls were deffered by the Trai for one year on this Tuesday.It also dicussed on prescribing minimum or floor price for call and data. The telecom authority said operators would continue to pay 6 paise per minute for every outgoing call made to networks other than to their network till December 31, 2020. Also these are proposed to become zero from January 1, 2021.
Airtel is also hopeful on Supreme Court's view on AGR issue (Adjusted Gross Revenue issue).On October 24, The Supreme Court allowed central Government to recover almost Rs 92641 crore AGR from operators including Airtel, Vodafone Idea and Reliance Jio. The total AGR including penalties and interest from telcos adds up to an estimated Rs 1.4 trillion.
The apex court ordered telcos to pay all past dues statutory within next three months or by the end of January 2020. Also, they have made appeal for staggered payments. The telecom industry which has a debt of around Rs 4 trillion has sought the governments intervention to tackle this overheaded stress.
"As a group we need a lot more investments, we need a little bit of encouragement in terms of faster clearances from government" said Mittal.
"We typically invest Rs 20K Cr in telecom every year, and we will continue to do so"said Mittal in meeting with Commerce and Industry Minister Piyush Goyal. He has discussed all the issues and sought the government's support for the clearances as faster as possible to streamline the group's investment plan. He said that he was glad that the authority had paid attention to the requests of the industry, while commenting on the one year extension given by the Telecom Regulatory Authority of India(TRAI) to IUC regime.
The scrapping of charges paid by mobile phone users for calls were deffered by the Trai for one year on this Tuesday.It also dicussed on prescribing minimum or floor price for call and data. The telecom authority said operators would continue to pay 6 paise per minute for every outgoing call made to networks other than to their network till December 31, 2020. Also these are proposed to become zero from January 1, 2021.
Airtel is also hopeful on Supreme Court's view on AGR issue (Adjusted Gross Revenue issue).On October 24, The Supreme Court allowed central Government to recover almost Rs 92641 crore AGR from operators including Airtel, Vodafone Idea and Reliance Jio. The total AGR including penalties and interest from telcos adds up to an estimated Rs 1.4 trillion.
The apex court ordered telcos to pay all past dues statutory within next three months or by the end of January 2020. Also, they have made appeal for staggered payments. The telecom industry which has a debt of around Rs 4 trillion has sought the governments intervention to tackle this overheaded stress.
"As a group we need a lot more investments, we need a little bit of encouragement in terms of faster clearances from government" said Mittal.
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