New Delhi, Feb 29 (IANS) Sunil Bharti Mittal, who became the first Indian to be knighted by Britain’s King Charles III, said on Thursday that Airtel will take the lead in raising telecom tariffs if market signals are perfect to keep valuations healthy, while ensuring better return on investments.
Airtel Founder and Chairman said, “We have always said we need to go to Rs 300 ARPU (average revenue per user) from Rs 200 now.”
“Valuations need to be healthy. The tariff needs to be suitable to give rewards to the shareholders and a decent return on capital,” Mittal told NDTV Profit in an interview. “That has been woefully short.”
The company’s ARPU grew 2.5 per cent sequentially to Rs 208 in the third quarter, with 7.4 million growth in its 4G subscribers.
Airtel has spent about Rs 40,000 crore on the 5G spectrum and an equal amount on rolling out the network and more needs to be done, according to Mittal.
He also said that Bharti Airtel-backed satellite internet company OneWeb is aiming to reach remote regions and offer rates close to terrestrial telecom.
“Our ground station is ready in Mehsana in Gujarat and awaiting allocation of spectrum for satcom so that services can be launched”.
With the Leo constellation of satellites, pricing has been brought down while helping them provide global coverage.
On the honorary knighthood, Mittal said it “recognises India’s rise in the world”.
According to him, Indian businesses are recognised as good corporate citizens in the UK and the country has been a natural choice to set up operations.
“The UK has always been a natural choice for Indian businesses. It’s only natural that we looked at the UK for business opportunities.”
A lot of progress has been made in the free trade agreement (FTA) discussions between India and the UK.
“I will try from my side to ensure the FTA is a win-win for both the countries,” he said.
–IANS
na/svn
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
