Telcos need to avoid silly competition on rates: Airtel
India's telecom sector is in serious financial trouble partly because of "court's action", which can't be controlled, and the rest because of certain factors that can be controlled by the government and the industry, Bharti Enterprise Deputy Group CEO and Managing Director Akhil Gupta said at the Convergence India meet.
"I must point out, very unfortunate for delegates who would have come here from abroad. You would be hearing disturbing news about telecom sector in India and, unfortunately, most of that is true.
"The sector should have been in pink of health, it is in trouble today. It is in serious financial trouble," he added.
Gupta said some of the troubles may be beyond anybody's control, but some of that is.
"Government would be little more forthcoming in terms of clarity, which hopefully will be done now. And industry, in making sure that there is no silly competition so that we plummet the realised rates at such a level that the business becomes unprofitable," Gupta said.
Gupta also serves as Director of Bharti Airtel.
He said that in his view government clearly recognises that the telecom industry needs to be healthy so as to provide connectivity to a billion people, which requires billions of dollars in investment.
"For that, it has to be a healthy industry. I am looking forward to a glorious future," Gupta said.
Bharti Airtel has posted decline
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