Bharti Airtel recently said that it is welcoming the reforms announced by the Government of India (GoI). With the recently announced reforms, the burden of the sector will be reduced significantly, and it will ensure a three-player telecom market sustains. Sunil Bharti Mittal, Chairman of Bharti Enterprises, said that this move from the government would ensure that its vision of Digital India can be approached more aggressively. Mittal said that this would help India in achieving its digital ambitions fast.
Bharti Airtel Fully Committed Towards India’s Growth
Mittal said that Bharti Airtel is fully committed to the growth of the country. Thus, it will support Prime Minister Modi’s vision of investing and accelerating the growth of India. The announcement of the reforms will certainly add to the telco’s growth in the short and the long-term. This is just a bonus for Bharti Airtel, which is already in a stable position in terms of revenues and is further looking to raise Rs 21,000 crores through a rights issue.
Further, the reforms announced by the government will ensure that the 5G era will see new telecom players entering the market. This will further result in a boost for the economy as more jobs will be created, and more money will flow through.
Gopal Vittal, Managing Director and Chief Executive Officer of Bharti Airtel, said that more needs to be done. Vittal said that the next thing that needs to be focused on is bringing a tariff regime that’s good for the telecom operators and gets them a fair return on their investments. Tariff hikes coupled with the relief package would make the industry more strong, and it might bring new investors into play. However, until the time 5G arrives, there shouldn’t be an aggressive tariff hike move from the telcos since they will be looking to get the biggest market share possible to maximise their revenues in the medium-term.