Wooing overseas investors, government on Wednesday decided against challenging the Bombay High Court decision favouring Vodafone in the Rs 3,200 crore (Rs 32 billion) tax case and adopt a similar approach in transfer pricing litigations involving other MNCs like Shell.
Brands in India are finding newer, more innovative ways to engage with a wider audience during festivals. But they still have a long way to go before they match global campaigns.
Finance secretary R S Gujral too is believed to have met top Vodafone officials in Mumbai last month.
Cook is scheduled to meet top honchos of India Inc later during the day
'The government is unwilling or unable to provide the kind of relief that Vodafone India is asking for.'
Under the UASL norms, spectrum is linked to licences, and a particular band of radio wave is restricted to be used in a particular technology
Cut-throat competition, high spectrum costs, and frequent flip-flops in government policies have made it difficult for Vodafone to make money in the country.
Says, Jio unlikely to gain 2% revenue market share in 2017
Advertisers like Vodafone in India are already testing these new targeting capabilities with good early results.
Country accounts for 38% of telco's global user base, 10% of total revenue
The latest ad, done by O&M again, Vodafone's ad agency, shows two engineers tinkering away in a dimly-lit highway tunnel.
Banks have Rs 10 trillion in stressed assets - Rs 7.8 trillion of bad loans and Rs 2.2 trillion of restructured ones.
The call failure rate, Jio said, has been worsening rapidly in the last few days, while augmentation of interconnection capacity is still awaited
Prime Minister Narendra Modi is likely to urge Tim Cook to begin manufacturing its prized iPhones in India.
Special CBI Judge O P Saini adjourned Monday's proceedings in the wake of stay granted by the Supreme Court on separate pleas filed by Mittal and Ruia challenging the March 19 order of the trial court summoning them as accused in the case.
Vittorio Colao, who is currently on an India visit, said he would be open to listing his company in the country
From Rafale relief to heat on realtors, 10 landmark Supreme Court judgments in 2018.
In the broader market, the BSE Midcap index bucked the trend to gain 0.3%
The government, however, amended the tax laws with retrospective effect to undo the Supreme Court judgement and claim taxes.
'Today, according to the law, you can't even claim legal expenses when fighting a case as a non-executive director unless you are acquitted. Given how high legal expenses are, that alone is enough to scare anyone away.'
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Faced with over Rs 11,200 crore (Rs 112 billion) tax liability, Vodafone India chief Analjit Singh on Thursday met Finance Minister P Chidambaram for the second time this week and expressed the hope that there will be clarity soon on the proposal to settle the dispute through conciliation.
Vodafone is locked in twin tax disputes with the government.
Special CBI Judge O P Saini adjourned today's proceedings after advocate Siddharth Agarwal, appearing for Mittal, said the Supreme Court is scheduled to hear in March the separate pleas filed by Mittal and Ruia challenging the March 19, 2013 order of the trial court summoning them as accused in the case.
Telcos propose licence regime for apps like WhatsApp, Skype.
Telecom industry in India is in a mess and it is a result of thinking that more the competition better it is, Vodafone India CEO & Managing Director Marten Pieters said on Thursday.
Reliance Industries Ltd is expected to invest Rs 30,000 crore (Rs 300 billion), of the total Rs 70,000 crore (Rs 700 billion) announced, in its telecom arm Reliance Jio Infocomm over the next two years, credit rating firm Moody's said on Monday. The investment in the telecom business is a credit negative for RIL because RJio will not generate any EBITDA (an indicator of cash flows) for at least next 12 months, it said. Moody's added however that RJio will be a formidable competitor in the sector making it a credit negative for top telecom operators already in the field. "Based on RIL's March 2014 annual report, we estimate that it has already invested about Rs 400 billion (Rs 40,000 crore) in Reliance Jio, and we expect RIL to invest the next Rs 300 billion in Reliance Jio over the next two years," Moody's Investors Service said in a statement. RIL recently announced that it will launch commercial 4G telecom service of RJio in 2015 entailing investment of Rs 70,000 crore. RIL has said that RJio will initially cover about 5,000 towns and cities accounting for over 90 per cent of urban India, as well as over 215,000 villages in India and the target is to expand this to over 600,000 villages. Moody's said RJio will be a "formidable competitor in India's telecom sector" as it will enter the business with financial muscle. RJio's entry into highly competitive telecom sector is also credit negative for incumbent mobile operators and market leaders Bharti Airtel and Vodafone India because "it will undoubtedly result in intensified competition that will lead to declines in average revenue per user and margins". But, it also said that strong spectrum holding of incumbents; existing large subscriber-bases and well- established brand equity; offering 2G and 3G services (apart from 4G services being launched) as well as marketing and distribution architecture mitigate much of the near-term competitive threat from Reliance Jio for them. "Furthermore, given issues of language and literacy, large parts of rural India remain a substantially voice-based market where near-term demand for 4G services may be muted," Moody's said.
BSE Midcap and BSE Smallcap outperformed the frontline indices to gain 0.2% and 0.3%
The incumbent operators faced the onslaught of free offers and cheaper rates from Jio.
Apps that offer location-based services, like Foursquare or maps, can be turned off when not required.
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
After their merger Vodafone Group CEO, Vittorio Colao says India is not a Jio market alone. Aditya Birla Group CEO, Kumar Mangalam Birla says Vodafone is dominant in metro cities, while Idea is a big player in urban, semi-urban markets.
A user will need to buy a 4G-enabled handset and then upgrade his or her existing 2G/3G SIM card to a USIM (Universal SIM)/4G SIM.
Upfront payment of Rs 32,000 cr just half of Budget estimate; no takers for 700 & 900 megahertz bands
Country's second largest telecom player Vodafone has launched Rs 5 per day scheme offering free incoming calls, cheaper outgoing calls and SMS rates during national roaming.
Jio makes data on call drops public, says 121 mn calls failed in a day
To outgoing Vodafone CEO Vittorio Colao, negotiating big deals was an art form, as an international report pointed out after the $130-billion sale of Vodafone's 45 per cent stake in Verizon Wireless, says Nivedita Mookerji.
UK-based Vodafone Group has ruled out selling its around 5 per cent stake in the holding company of Bharti Airtel in the near future as there is no buyer.
It may be the season for corporate matchmaking but India Inc's record of managing partnerships is far from impressive, says Shailesh Dobhal.
Eight telecom companies, including Bharti Airtel, Vodafone and Idea Cellular, the biggest three in the country, bid a combined Rs 61,162 crore (Rs 611.62 billion) in the spectrum auction held earlier this month.
The Finance Ministry has already circulated a draft Cabinet note withdrawing the conciliation offer to Vodafone to resolve the Rs 20,000-crore (Rs 200-billion) tax dispute case.
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