Taxes are still high, central govt needs to solve telecom's 'pressing issues': Mittal

Bharti Airtel plans to raise rupees 21,000 crore through rights issue to enhance the leverage position for the company

 

Sunil Bharti Mittal who is the Chairman of Bharti Airtel, had said on Monday that the telecom industry has been making investments aside from low returns and its time for the central government to attend to the problems faced by the telecom sector, including the continuing high taxes.

 

The telecom company chairman in an investor call, had said that the central government has also been asking the sector to step up investment in the digital infrastructure and the telecom sector has been also requesting the central government to attend to some "pressing issues inhibiting continued investments in the sector given the negative to low returns".

 

Sunil Mittal said that the taxes on the telecom industry has remain high and for every rupees 100 of revenue, rupees 35 go in different forms of levies.

 

He said, "We hope that as we step up and do our part, the government will also favourably look at some of the genuine demands of the industry enabling a multiplier effect and positive outcome."

 

Bharti Airtel plans to raise rupees 21,000 crore through rights issue, he said that the capital will help to enhance the leverage position for the company.

 

He said that at the same moment this capital will provide the fuel to boost investments across various parts of its portfolio to drive competitive and profitable growth.

 

The handsets which are 5G entitled have started to make their way into India and Bharti Airtel anticipated that by that time 5G networks are built, there will be huge number of 5G entitled handsets that are ready to use the services.

India Scanner News Network

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