Industry needs long overdue support to sustain 3+1 structure: Sunil Mittal

Bharti Airtel Chairman Sunil Mittal has expressed hope that the government and regulators will step in to ensure that the sector remains a viable place for continued investments, and asserted that industry requires long overdue support to maintain its current 3+1 structure.

Mittal said that as the sector's role in the economy becomes more pervasive, its challenges loom larger. Issues such as unsustainable pricing and low returns in a highly capital-intensive environment, coupled with legacy legal issues, have extracted their toll, Mittal said in Airtel's annual report for 2020-21. "The industry requires long overdue support to maintain its current 3+1 industry structure and allow players to earn a respectable return on their investments," Mittal said.

The telecom czar was alluding to the current telecom industry construct that has three private players and one state-owned operator. Mittal hoped that the government and the regulators will step in to ensure there is adequate balance in the industry and it remains a viable place for continued investments. India continues to be a promising destination for long-term investors, he pointed out. "We have the opportunity to transform India into a global leader in the digital economy. We must continue to evolve our policies to realise these opportunities while encouraging investments, entrepreneurship and innovation through collaboration," Mittal said pledging that Airtel is ready to play its part.