Responding to the Supreme Court?s verdict in the 2G spectrum case, FICCI stated that this judgment will help the sector restart the process of receiving clarity in terms of policies and the way forward.
?It is clear that the Supreme Court judgment underlines the need for a pro-reform, competitive and market based process for allocation of scarce national resources such as spectrum. The uncertainty currently prevailing in the sector will be eliminated.?
?The Supreme Court has also given a four months period for the existing licensees to function while the Telecom Regulatory Authority of India (TRAI) has two months for preparing guidelines for grant of license in the 2G band across 22 service areas via an auction process.?
?In the new environment, India is expected to invite and attract large scale domestic and foreign investment afresh. This may take some time but is an improvement over an environment that mirrors uncertainty. FICCI expects the government to act with a great sense of urgency while addressing the concerns of the investors and more so of the subscribers bringing a new equilibrium with new licenses at the earliest and resolving the outstanding issues to the satisfaction of all the stakeholders. Consumer interest should be kept uppermost and FICCI hopes that it will be well ensured by the Government.?
?FICCI will work with the Government and TRAI in attracting new investments through allocation of 2G, 3G and 4G spectrum via a transparent process. The TRAI should act as a true an independent custodian of this very important sector.?
