TRAI may recommend the DoT to levy one-time non-refundable fee of Rs 50,000 per operator for each service area in which they opt for spectrum sharing.
Responding to queries from the Central Vigilance Commission amid allegations from political parties that Rs 50,000 crore (Rs 500 billion) was squandered in distribution of spectrum, telecom ministry said it had gone by the book and had done nothing wrong.
The ongoing arguments in the case remained inconclusive and would continue on August 5
Adani group opened a $1.2 billion copper plant, bought a port in Odisha, raised stakes in a cement company and stitched an alliance with rival Mukesh Ambani's Reliance Industries, all in a matter of one week in signs that the apples-to-airport conglomerate has shrugged off the Hindenburg effect and is back to rapid expansion spree. In the last one week, Adani group has through regulatory filings and press statements announced expansions and investments in its mainstay ports business, diversification into metal refining, fund infusion into a two-year-old cement foray and continuing progress in the commissioning of its mega solar project.
AIADMK chief Jayalalithaa on Tuesday demanded that Union Communications and IT Minister A Raja resign and face a probe on the 'spectrum allotment scam'.
RCom and Aircel will hold 50 per cent each in the new company
India's telecom industry grew by an impressive 28.59 per cent last fiscal with the subscriber base nearing the 100 million mark aided by cheaper call tariffs.
Indian telecom companies are scouting for acquisitions worldwide as part of an ambitious attempt to establish a global footprint. Moreover, the growth momentum needs to be maintained amid the falling average revenue per user (ARPUs) and expected saturation in the domestic subscriber base.
The government on Wednesday cleared the long-discussed proposal to hike foreign direct investment limit in the telecom sector to 74 per cent from the current 49 per cent, Finance Minister P Chidambaram said after Cabinet meeting.
In Metro circles only Bharti-Mumbai, BPL-Mumbai, Reliance- Mumbai and Tata-Mumbai meet the benchmark.
Indian telecom companies are likely to get a windfall of Rs 100-150 crore (Rs 1 to Rs 1.5 billion) when they announce their first quarter results during this week.
Global credit rating agency Fitch upgraded outlook for the Indian telecom sector from 'negative' to 'stable'.
Debt-ridden telecom operator Vodafone Idea on Tuesday approved the allotment of equity shares worth Rs 16,133 crore to the government, which post-allocation has become the largest shareholder with a 33.44 per cent stake in the company. The shares have been allocated to the government in lieu of conversion of interest dues arising from deferment of adjusted gross revenue and spectrum auction payments, the company said in a regulatory filing. "...it is hereby informed that the board of directors of the company has, at its meeting held today approved the allotment of 16,133,198,899 equity shares of face value of Rs 10 each at an issue price of Rs 10 per equity share aggregating to Rs 161,331,848,990 to the Department of Investment and Public Asset Management, Government of India," the filing said.
The acrimonious atmosphere created by increased litigations among service providers was bound to have its impact on the foreign investors, Shourie said during an interaction with telecom industry stalwarts in New Delhi.
Spice Telecom, one of the cellular service providers in Punjab, on Friday announced a 'special ISD offer' for its subscribers in the state, reducing international calling rates from Rs 16 to Rs 3.99 per minute.
The Joint Parliamentary Committee to probe the 2G spectrum issue will look into the allocation and pricing of telecom licences and spectrum from 1998 to 2009.
Telecommunication is one of the fastest-growing industries in the world.
Reliance Industries' (RIL's) retail arm, Reliance Retail, is now valued at nearly twice the amount of its decades-old and lucrative oil-to-chemical (O2C) division. Bernstein's latest report on the conglomerate projects a valuation of $112 billion for its retail business, dwarfing the $57 billion valuation of its O2C division. In addition, the research firm valued Jio Platforms, the company's telecom arm, at $77 billion and the renewable energy business at $17 billion.
A day ahead of the interim Budget, India slashed import duty on spare parts, like battery cover, lens and SIM socket, used in mobile phone manufacturing to 10 per cent, from 15 per cent. The duty cut is aimed at boosting local production and exports, as well as reducing prices in local markets. The finance ministry on January 30, notified the cut in duty on all goods for use in manufacture of cellular mobile phones to 10 per cent.
The Union Cabinet on Friday extended the period of compliance with the conditions of Press Note 5, 2005, by three months to December 31, 2006.
Continuing its probe in the 2G spectrum allocation scam, the Central Bureau of Investigation questioned two top telecom honchos besides close aides of former Telecom Minister A Raja, including his brother Kalia Perumal. The agency quizzed chief executive officer of Loop Telecom Sandip Basu and chairman of Sistema Shyam Teleservices Rajiv Mehrotra in connection with the scam, official sources said.
While Ambani, 66, drew nil salary from the company since the 2020-21 fiscal year, other executive directors including his cousins Nikhil and Hital are paid a salary, perquisites, allowances and commission. His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm.
'The transactions were done in a circuitous route deliberately and most of the companies involved in it are Reliance ADA group firms.'
Justice Dinesh Kumar Sharma said the parties shall file brief written submissions not exceeding five pages.
BPL Telecom Pvt Ltd, a part of the Rs 4500 crore BPL Group, on Friday launched its new range of Notebook PCs based on Intel's Centrino Mobile Technology.\n\n\n\n
The Department of Telecommunications is planning to give more powers to the telecom regulator, Telecom Regulatory Authority of India, in the new telecom policy, including the power to impose financial penalties on the erring telecom service providers.
Swan Telecom promoter Shahid Balwa, who along with former Telecom Minister A Raja and 17 others are facing a money laundering case arising out of the 2G scam, on Friday moved the Supreme Court seeking setting aside of a lower court order of framing charges against him.
Sources at the department of telecommunications confirmed that Bharti Airtel has submitted application to bid for airwaves frequencies at pan-India level.
The government is banking on the second round of spectrum auction and customer-centric moves such as free national roaming to rebuild the telecom sector, impacted by controversies and court judgements that have shaken investor confidence.
Prime Minister Narendra Modi, speaking at the India Mobile Congress in New Delhi on Friday reeled out statistics to show how India has turned into an exporter of mobile phones from being an importer and how big tech companies -- from Apple to Google -- are lining up to become manufacturers in the country. He said after the fastest rollout of 5G mobile telephony services, India will lead the world on 6G. Recalling the launch of 5G technology in the country on October 1, 2022, he remarked that within a year there are about 5 lakh 5G base stations across the country.
The telecom regulator on March 27, announced its decision to phase out the Access Deficit Charge, which was paid by private telecom service providers to compensate BSNL for offering services in rural areas at subsidised rates. All major telecom players, Bharti Airtel, Tata Teleservices and Vodafone Essar had also welcomed the move.
"The telecom service sector has shown unprecedented growth during 2003-04 mainly driven by intense competition and aggressive pricing," The Telecom Regulatory Authority of India said in a statement in New Delhi.
The industry was hit by the financial stress of 3G and 4G auctions in 2010.
Isha's stab at the bottom of the laptop pyramid shows she is a true Ambani.
Despite the infamous scams and taints that the industry has faced, each Indian can claim to be a proud beneficiary of the country's telecom revolution.
Foreign Direct Investment (FDI) as a source of funding has shrunk to a trickle for the once lucrative telecom sector with foreign investment inflows plunging to $43 million in the April-September period of the current fiscal.
India's booming mobile services market will see investments of over Rs 100,000 crore (around $24 billion) by 2010, the fastest investment ramp-up seen in any telecom market globally even as analysts predict a bruising battle that will see tariffs fall sharply.
Despite the increased business risks, the rating agency affirmed Baa2 ratings, three notches down from the highest grade, with a stable outlook for RIL, Moody's Investor Service said in its weekly outlook.
The Adani group plans to bid for setting up duty-free shops at the Macau international airport, as India's largest airport operator spreads its wings overseas. In a stock exchange filing, Adani Enterprises, the flagship firm of the conglomerate run by billionaire Gautam Adani, said it has completed the incorporation of a wholly-owned subsidiary, MTRPL Macau Ltd, in Macau on November 20. The subsidiary has been incorporated for the purpose of getting into the duty-free industry.
