STOCK MARKET BSE NSE

Telecom industry under tremendous stress; tariffs need to go up: Sunil Mittal

The industry needs to be healthy for embarking on 5G services, and delivering on India's digital dream, Bharti Airtel Chairman Sunil Mittal said.

Published: 01st July 2021 07:43 PM  |   Last Updated: 01st July 2021 07:43 PM   |  A+A-

Bharti Airtel chairman Sunil Bharti Mittal said the company is strongly positioned to serve the market in coming years.

Bharti Airtel chairman Sunil Bharti Mittal said the company is strongly positioned to serve the market in coming years. (File photo | PTI)

By PTI

NEW DELHI: Telecom czar Sunil Mittal on Thursday said the industry is under tremendous stress and hoped the government will ensure that India's digital dream remains intact through the provision of at least three operators.

When asked if Bharti Airtel will look at raising tariffs, Mittal said, "We will not hesitate to do it, but it can't be done unilaterally".

"To say telecom industry is in a bit of trouble is actually an understatement. It is in a tremendous amount of stress. I hope the Government, the authorities, and Telecom Department focus on this issue and ensure India's digital dream remains intact through the provision of at least three operators," Bharti Airtel Chairman Mittal said.

He was speaking to reporters at a virtual event of OneWeb, a satellite communications company led by Bharti Global and the UK government.

Mittal said Bharti Airtel had raised funds timely and adequately, through equity and bonds, and asserted that the company is strongly positioned to serve the market in coming years.

"We never went into the woods at all. We are strong a company, many a time we are underestimated in our resolve," Mittal added.

He conceded that the last 5-6 years had been brutal and pointed out that the results are for all to see.

"Ten operators gone out of business, two merged together...gasping for breath right now," he said.

The industry needs to be healthy for embarking on 5G services, and to deliver on India's digital dream, he said.

"How long can you keep on killing each other, the point is when you have a return on capital, even by the best operator, at low single-digit and most of them struggling...I am not saying...raising tariffs always sounds bad...just bring it back to where it was...enjoy 15 times consumption, but at least come back to old tariffs," he said.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp