In 2021, the government allowed telcos to convert interest on deferred spectrum payments and AGR dues into equity. This made it the single largest stakeholder in Vodafone Idea.
Vodafone said Kuiper's high-bandwidth, low-latency satellites would be useful in connecting remote mobile base stations to its core networks, without fibre-based wireless links.
Vodafone Idea has opted for the conversion of nearly Rs 16,000 crore interest on AGR and on spectrum installments into equity issuable to the government.
Among the country's three major telecom players, including Bharti Airtel and Jio, the govt package was seen as a bailout for Vodafone Idea, which was on the verge of bankruptcy.
The cute, little, egg-shaped white characters, who spoke a tongue no one understood, were launched in Vodafone commercials of 2009, during the 2nd IPL season, and fast became a popular icon.
A true revival of the Indian telecom sector will require an optimistic view of the future, which is a difficult ask given the industry’s chequered past.
The govt earlier enacted Taxation Laws (Amendment) Act which removed its power to slap capital gains levies wherever ownership had changed hands overseas but their assets were in India.
No two bankruptcies are the same, but India’s processes for handling them have some common deficiencies. It’s still not too late to turn the bankruptcy regime into a real institution.
Retrospective taxes are just one facet of arbitrary state action. MNCs that have committed billions of dollars have many other legal minefields awaiting them.
Decision will end India’s dispute with Vodafone Plc and Cairn Energy Plc, and in 15 other similar cases. FM Sitharaman notes that the retrospective tax became a ‘sore point’ with investors.
As India prepares to commemorate its Kargil victory, it’s long past time to assign responsibility for the many failures of leadership responsible for hundreds of soldier deaths in 1999.
With the agriculture sector employing 45% of the workforce but accounting for only 15% of GDP, it confirms that two-thirds of India’s workforce engages in low-productivity work.
Pictures had emerged of Chinese soldiers carrying rifles and iron rods with machete-like heads in the vicinity of India’s forward locations on the southern bank of Pangong Tso in 2020.
Occasional lovers’ tiffs have marked history of RSS-BJP relations. To think that Nagpur will bring about any change in leadership is a misreading of both its intent and its power.
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