Sunil Bharti Mittal, chairman, Bharti Airtel, has voiced confidence that the government and regulators will intervene to guarantee that the sector remains a viable destination for further investment, claiming that the industry is in desperate need of long-overdue assistance to retain its existing 3+1 structure.
In Airtel’s recently released annual report, Mittal stated that as the sector’s importance in the economy grows, so do its problems. Further, he stated that unsustainable pricing and low profits in a very capital-intensive economy, along with historical legal concerns, have taken their toll on the sector.
However, he pointed out that India continues to be a “promising destination” for long-term investors
Furthermore, he stated that despite the pandemic and industry problems, Airtel exhibited “remarkable resilience” and emerged far stronger during the previous fiscal year. According to Mittal, Airtel has created a strong integrated product portfolio as a result of its massive investments over the years, allowing the firm to leverage future possibilities and provide services at scale. Additionally, he stated that a solid framework is in place for Airtel to become a “truly digital-first company” to serve Digital India and that the firm can build world-class platforms and digital solutions.