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Bharti Airtel welcomes Government of India's seminal reforms for the telecom industry

Posted On: 2021-09-15 13:01:13 (Time Zone: UTC)


Bharti Airtel today welcomed the path breaking policy directions and interventions announced by the Government of India to support the telecom industry that has been battered by unprecedented stress, high debt and low return on investments.

The reform package heralds a new dawn for the Indian telecom industry and will catalyse explosive growth of this vital sector. More importantly, it paves the way for a sustainable three private plus one state owned telecom operator structure to serve a large market like India.

These bold initiatives are reminiscent of the decisions taken by the NDA Government in 1999 when the telecom sector was at a crossroads which resulted in an era of affordable mobile services for all Indians.

Sunil Bharti Mittal, Chairman, Bharti Airtel said: "We congratulate and thank the Government, who under the decisive leadership of the Hon'ble Prime Minister Shri Narendra Modi, has undertaken these seminal reforms to lift an industry that's at the core of his Digital India vision. The latest reforms ensure that the industry is able to invest fearlessly and support India's digital ambitions. We also compliment the Hon'ble Minister of Communications and the Hon'ble Finance Minister for their leadership and support."

"Bharti Airtel is fully committed to respond to the call by the Hon'ble Prime Minister to invest in and accelerate India's growth. What lies ahead is a once in a lifetime opportunity to build the digital infrastructure that is a catalyst for the digital aspirations of over one billion Indians." added Sunil Bharti Mittal.

India's digital economy has entered a phase of exponential growth with digital solutions contributing to fast and inclusive growth by bringing more and more people online. India has the potential to become one of the biggest digital ecosystems in the world as the country moves towards achieving the USD 5 trillion GDP goal set by the Government.

Next generation telecom networks with technologies such as 5G will be the spine that will support India's digital ecosystem and spur economic growth. A healthy telecom industry will also spur innovation and investments in allied industries like network equipment, smartphones, data centers, etc. and help create large number of jobs and contribute to India's Atmanirbhar vision.

Gopal Vittal, MD & CEO (India and South Asia), Bharti Airtel added "For over two and a half decades, Bharti Airtel has pioneered India's telecom revolution. These fresh reforms will further boost our efforts to invest in this exciting digital future and enable us to be one of the leading players in India's digital economy. More needs to be done, however, towards a sustainable tariff regime to ensure the industry gets a fair return. This will in turn allow it continue investing in new technologies and innovation to bring world-class services to customers."

Shares of Bharti Airtel Ltd. was last trading in BSE at Rs. 725.55 as compared to the previous close of Rs. 694.1. The total number of shares traded during the day was 1064330 in over 18611 trades.

The stock hit an intraday high of Rs. 734.95 and intraday low of 696.05. The net turnover during the day was Rs. 767339389.


Source: Equity Bulls

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