Jio's disruptive strategy, including free voice services and data at throwaway rates, apart from offering all services free for six months, triggered a consolidation in the telecom sector.
Mittal said he discussed a plethora of issues with Commerce and Industry Minister Piyush Goyal and sought the government's support for faster clearances to streamline the group's investment plans.
Vodafone to invest 1.3-billion pounds in upgrading and expanding its network in India.
Upfront payment of Rs 32,000 cr just half of Budget estimate; no takers for 700 & 900 megahertz bands
Companies might have to shell out a fourth of the industry's annual net revenue to clear the obligation
Revenue decline has left the operators with little money to service their mostly 3G and partly 4G infrastructure leading to poor data and voice quality.
Just to promote govt's policy of Make in India, BSNL said, it cannot afford to procure sub-standard equipment from inexperienced companies, not having proven technology. BSNL complained that when competitors were procuring world-class 4G equipment from experienced vendors, why should BSNL be compelled to procure locally.
Bharti Airtel and Vodafone Idea have communicated to the telecom department that they will not pay AGR dues of Rs 88,624 crore, the deadline for which ended on Thursday, and will wait for the outcome of modification petition listed for hearing before the Supreme Court next week, according to official sources. Reliance Jio on Thursday paid Rs 195 crore to the telecom department to clear all adjusted gross revenue dues accounted till January 31, 2020, according to an official source.
'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.'
With a string of deals with telecom service providers, DTH operators and Bollywood stars, Netflix goes all out to protect its turf in India and fend off competition, says Viveat Pinto.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Airtel operates as Airtel-Vodafone in Jersey and Guernsey to offer Vodafone trademarks in the British Channel Islands.
Telecom companies have been desperately waiting for a bailout package from the government after a Supreme Court order put their statutory liabilities at Rs 1.47 lakh crore.
While moving towards the new technology is compelling and inevitable, powering 5G would also mean massive initial investments for telcos, says Surajeet Das Gupta.
These circles account for 23 per cent of Bharti's revenues and armed with additional spectrum, it will eat into rivals' share
From Rafale relief to heat on realtors, 10 landmark Supreme Court judgments in 2018.
Cairn joins a slew of multinational firms including Vodafone Group Plc and Royal Dutch Shell Plc that have been slapped with retrospective tax demands by Indian authorities.
Ballooning debt forces more and more Indian promoters to sell out to global majors and PE players.
Reliance Jio submitted the highest pre-auction deposit.
Income will be higher as spectrum in 2,100-MHz band will also be auctioned
Arun Sarin is the chief executive officer of Vodafone Group Plc, the United Kingdom-based global mobile operator.
However, the government is readying a relief package and it could include a cut in the licence fee to 5 per cent, two years' moratorium on paying spectrum charges with interest, and referring the GST tax refund issue to the Council.
While the investment amount could not be immediately ascertained, a report pegged it at about $2 billion.
While the draft M&A policy for the telecom sector has been revised a few times over the past few months, DoT has not made any major changes to guidelines.
If you are a Citibank credit card holder in Bangalore, and use a Vodafone mobile phone service on a Nokia 6212, you need not carry that Citi credit card anymore.
Experts say going ahead data price will fall further due to competition
'MFs acted as reckless lenders and not as prudent investors.' 'Clearly, how debt funds are being run is a systemic issue,' warns Debashis Basu.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Kataria, 49, an IIT-XLRI alumnus, was quick to implement a number of initiatives during the Covid-19 crisis including launching D2C initiatives such as mobile stores, WhatsApp messaging, video calling and home deliveries. Kataria was also swift to recognise that stay-at-home consumers were keen to buy informal rather than formal footwear, launching new collections quickly to take advantage of this trend, says Viveat Susan Pinto.
The V150 has most of the basic features like voice, SMS and support for mobile payment services.
Regulators will need to allow the model to evolve to allow profits to flow, says Una Gulani.
Jaitley was reacting to a question by CNBC TV18 on Rajan's remarks last week.
Transfer pricing tax orders of Income Tax against Shell and Vodafone pertain to alleged undervaluation of shares issued by their domestic subsidiaries to the parent companies abroad.
CBDT circular issued last month had raised multiple taxation concerns.
Rahul Khullar's guiding credo was that a civil servant must never lose sight of his client: The little guy. The evil men are those who are decision-makers but abdicate their responsibility of taking decisions, leading people to lose confidence in public institutions.
Manoj Sinha will retain his current role in the railways.
Jio has accused incumbent telecom operators for not providing the required number of equipment to connect its mobile network with theirs
But the road map of telecom will be decided by one thing: Whether Jio sticks to its ambitious plan and whether incumbents have enough financial muscle or ability to raise money every year to ensure that Jio does not reach its target, says Surajeet Das Gupta.
Vodafone debuted at 20th rank in this year's list, prepared by consulting firm Hay Group and Chief Executive Magazine. PepsiCo is down to 7th position from its third rank last year. In the 2006 list, Citigroup, now headed by another Indian origin banker Vikram Pandit, was ranked at fourth. However, it does not find a place in this year's list. Nagpur-born Pandit was named the CEO of Citigroup earlier this month, after his predecessor Charles Price stepped down last month.
GSM based mobile service providers jointly added over 44 lakh new customers, taking their cumulative customer base to 67.88 crore in September, according to data released by industry body COAI on Wednesday.
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