The Department of Telecommunications has called a meeting of the heads of all leading telecom companies offering GSM technology services on November 21 to resolve contentious issues that have arisen following recent changes in telecom policy.
Several leading industrialists, including Reliance Industries CMD Mukesh Ambani, Vedanta Resources Limited executive chairman Anil Agarwal, chairman emeritus of Tata Sons Ratan Tata, Mahindra Group chairman Anand Mahindra, Paytm Founder and CEO Vijay Shekhar Sharma, Welspun Group chairman and Assocham president B K Goenka, attended the swearing-in ceremony.
Easily the biggest high-power gathering and by far the starriest event staged in Gujarat, concluded at the Reliance petro township in Jamnagar on Sunday.
Big TV, the Reliance Anil Dhirubhai Amabni Group's soon-to-be-launched direct-to-home venture, has bagged the official DTH partnership for the Indian Premier League, the Board of Control for Cricket in India's Twenty20 cricket tournament, for a bid of $31.16 million (about Rs 137 crore) for the next four years.
Noel Tata likes to relax at his Alibaug beach home on weekends, but he is equally passionate about driving on the Mumbai-Pune Expressway at a speed of over 100 kilometres per hour.
As a group director and as a member of the management board, Walia's responsibility would be human resources and integration for Bharti group.
GSM operators lobby COAI has already challenged the norms announced by Department of Telecom on October 19, which include allowing dual technology for mobile services and enhanced subscriber-linked criteria for spectrum allocation. In view of protests by GSM operators, the Centre had asked Telecom Engineering Centre, the technical wing of DoT, to study the norms as suggested by the Telecom Regulatory Authority of India.
After the Bharti Infratel deal, India could see more group approach in PE investing.
Supporting West Bengal Chief Minister, Buddhadeb Bhattacharjee's stand, Mittal said, "Let us see for the next 7-10 years what Indian companies deliver and then we can take a call."
Sunil Mittal opined that all new GSM players will lose out in 3 years and Vodafone almost echoed this view.
The stock market rout has caused the country's five richest, led by Reliance Industries Chairman Mukesh Ambani, to lose more than $10 billion in just about a fortnight.
This could mean an end to the talks for a possible partnership between the two firms in the multi-brand retail space -- less than a year after 51 per cent foreign investment was allowed in the sector.
The government should lower the interest rates in the long term to increase supply as a move to check inflation, which touched a three year high of 7 per cent last week, Bharti Group chairman and managing director Sunil Bharti Mittal said.
India's retail giants, including Kishore Biyani's Future Group, Mukesh Ambani's Reliance Retail and Sunil Mittal-promoted Bharti group, have started negotiations with the railways for leasing land for retail development.
Coercion does not work. People will find ways to come around it. No one can legislate that industry cannot spend, or not be ostentatious, says Sunil Mittal.
The commerce and industry ministry has informed the Prime Minister's Office that the Bharti Group has conveyed to the government that its joint venture with Wal-Mart was in compliance with the existing FDI policy.
As Vodafone started examining the books of Hutchison Essar, its existing partner Bharti Airtel on Tuesday said it has not been approached by anyone to buyout British telecom firm's stake in the company.
Sunil Mittal, chairman & group managing director of the Bharti group, is Business Standard's CEO of the Year for 2005-06.
The Bharti group has applied to the government for a licence to operate direct-to-home television services.
While Bharti's retail stores will be fully Indian, they will be able to take advantage of the tremendously low prices and technology advantages that Wal-Mart will bring to Mittal-Mart's sourcing.
Government to examine whether rules and regulations were adhered to in the Bharti-Wal-Mart retail deal, says Commerce Minister Kamal Nath.
The one-year extension would give Walmart and its Indian joint venture partner in the cash and carry business, Bharti Group, more time to sort things out and decide on a retail foray together, people in the know said.
With his Mumbai sojourn,Wal-Mart Vice-Chairman Michael Duke gave enough signals that Wal-Mart is testing waters before it actually enters the organised retail in India.
Bharti Group, which has joined hands with industry leader Wal-Mart for a foray into
UK telecom giant Vodafone has offloaded its 5.6 per cent direct stake in India's mobile leader Bharti Airtel to promoter Sunil Mittal's group for $1.6 billion, coinciding its acquisition of controlling stake in Hutch-Essar.
Bharti Enterprises will kick off its retail venture early next year, opening half-a-dozen stores -- branding of which is still being worked out with its back-end partner Wal-Mart.
Bharti Airtel will start talks for "disengagement" from its partner Vodafone once the UK company decides on its future course of action in India.
Bharti group chairman Sunil Bharti Mittal today asserted that the question of buying Hutchison's stake in its Indian joint venture Hutchison Essar Ltd would only arise after the Ruias had decided the future course of action.
The Indian industry stands staunchly opposed to job reservations in the private sector, Bharti Group promoter and Confederation of Indian Industry vice-president Sunil Mittal has said as he vowed to fight the move at every fora.
Industry experts say that even after the Insat-4B launch, there would be a requirement of over 25 more transponders from new players as well as older players looking for expansion.
Bharti Airtel on Tuesday said there was no government scrutiny on the company's decision to buy back 5.6 per cent stake from Vodafone and the transaction was within the foreign investment norms in the telecom sector.
The non-availability of transponders on satellites has hit the expansion plans of not only existing direct-to-home players such as DD Direct Plus and Dish TV but also new entrants such as Sun Direct, Reliance Bluemagic and the Bharti group.
In yet another major outsourcing deal, Sunil Mittal-owned Bharti Group on Tuesday entered into a over Rs 580 crore ($125 million) deal with telecom major Nokia to expand the network in eight circles.
200 hypermarket and large format stores by 2010.
Wal-Mart's entry into India through an agreement with the Bharti group is a first-of-its-kind for the US retailing giant. The Arkansas-based retailer has always preferred to enter a new market on its own.
Bharti Group on Monday offloaded 10 per cent of its stake in Bharti Telesoft to a group of investors led by Westbridge Capital for $13.5 million.
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