The biggest question in Telecom Industry of India – Is Vodafone going to shut their business in India?
Vodafone after merged with Idea becomes the biggest telecom player in India. But now every telecom firm is in loss due to less revenues and big infra expenses. Vodafone reported a loss of $903 million in last quarter which is the 6th continuous quarter in loss.
In this tough time the Supreme Court of India has ordered all the telecom companies to pay their pending dues immediately by 17th of Mar’20. The total amount to be paid for all the companies is $19 billion and the Vodafone-Idea share is $4 billion. But the Vodafone is going to shut their business in India if they will not be given any relaxation. Vodafone-Idea is already have so much of money deficient.
As per company’s chairman Mr. Kumar Mangalam Birla, the situation is very bad and the company will shut operations if they are not granted any relief from the government or courts. Currently the company has more than 300mn subscriber and many of thousands are working as Employees.