Telecom network operator Vodafone has committed investments of
Rs 13,000 crore or £1.3 billion for enhancing capacity and new business
initiatives in India.
This significant
investment of $1.4 billion was committed to by Vodafone Group CEO Vittorio
Colao in his meeting with the India Prime Minister Narendra Modi in London
earlier.
Since starting
operations in India in 2007, Vodafone has already invested over Rs 111,000
crore and contributed over Rs 100,000 crore to the exchequer and is the largest
FDI investor in India.
Vodafone India has 188
million subscribers. Out of this, it has 100 million mobile users in India’s
rural markets. Vodafone’s India business is the largest data traffic market by
volume and the third largest contributor to Vodafone Group’s service revenues.
“As the co-creator of
the telecom ecosystem, a catalyst of the telecom revolution in India and being
committed for the long term, we are ideally poised to partner the Government of
India in fulfilling these important initiatives such as Digital India and Make
in India,” Colao said.
Vodafone will be
investing Rs 8,000 crore or £800 million to enhance, upgrade and expand network
coverage as part of Digital India program.
In addition, Vodafone
will be making an investment of Rs 4,000 crore or £400 million towards Make in
India program.
The telecom network
operator will also spending Rs 3,000 crore or £300 million to increase capacity
and upgrade its technology centre and IT and customer experience centers in
Pune and Ahmedabad. These centres service Vodafone companies globally.
Vodafone will invest
Rs 1,000 crore or £100 million for setting up Tier-4 data center addressing the
communications needs of businesses and enterprises.
Rs 1000 crore or £100
million will be invested towards the payment bank for which Vodafone M-Pesa
Ltd. has received an in-principle license from RBI.
Vodafone will increase
its staffing levels to 15,000 employees over the next two years. Agencies
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