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Translate good intentions into actions: Vodafone
World's second largest telecom firm Vodafone Plc today said investor sentiment in India has improved with the BJP coming to power but good intentions must now translate into actions.
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New Delhi: World's second largest telecom firm Vodafone Plc today said investor sentiment in India has improved with the BJP coming to power but good intentions must now translate into actions.
"I think the mood of investors with the new government of India is positive because the intentions are good. My recommendation is to make sure that political intentions (are) translated into administrative acts," Vodafone Group CEO Vittorio Colao told reporters here.
Vodafone, which is facing a tax liability of over Rs 11,200 crore along with interest on its 2007 acquisition of Honk Kong-based Hutchison Whampoa?s stake in India?s telecom major Hutchison Essar, said the private sector can deliver provided simple rules are framed, enough resources provided and quick decisions taken.
"Everywhere in the world we can deliver as the private sector, we can deliver broadband, we can deliver money transfer service...What we need is to have simple rules, enough resources and quick decisions so I think some of the steps India has made are in the right direction for the investors," Colao said.
Asked about the Digital India programme of the government, he said it is great but it will also have to get very good participation from the private sector.
"All these issues are well but they should not just be the initiatives from the government... It is really creating the conditions for the private sector to invest and we want to invest to serve the customers... Issues like spectrum are important and then trust the private sector and you can see private sector will deliver," Colao said.
The company has invested Rs 70,000 crore in India so far and has 92 million rural customers, he added.
"I think the mood of investors with the new government of India is positive because the intentions are good. My recommendation is to make sure that political intentions (are) translated into administrative acts," Vodafone Group CEO Vittorio Colao told reporters here.
Vodafone, which is facing a tax liability of over Rs 11,200 crore along with interest on its 2007 acquisition of Honk Kong-based Hutchison Whampoa?s stake in India?s telecom major Hutchison Essar, said the private sector can deliver provided simple rules are framed, enough resources provided and quick decisions taken.
"Everywhere in the world we can deliver as the private sector, we can deliver broadband, we can deliver money transfer service...What we need is to have simple rules, enough resources and quick decisions so I think some of the steps India has made are in the right direction for the investors," Colao said.
Asked about the Digital India programme of the government, he said it is great but it will also have to get very good participation from the private sector.
"All these issues are well but they should not just be the initiatives from the government... It is really creating the conditions for the private sector to invest and we want to invest to serve the customers... Issues like spectrum are important and then trust the private sector and you can see private sector will deliver," Colao said.
The company has invested Rs 70,000 crore in India so far and has 92 million rural customers, he added.
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