Oct 07, 2013, 10.41 PM IST
MF Farooqui said that TRAI recommendations reagrding the spectrum auctions are very good and hopes the department of Telecom will conduct spectrum auctions by Januray 2014.
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TRAI recos good; DoT to conduct spectrum auction by Jan '14
MF Farooqui said that TRAI recommendations reagrding the spectrum auctions are very good and hopes the department of Telecom will conduct spectrum auctions by Januray 2014.
Like this story, share it with millions of investors on M3
TRAI recos good; DoT to conduct spectrum auction by Jan '14
MF Farooqui said that TRAI recommendations reagrding the spectrum auctions are very good and hopes the department of Telecom will conduct spectrum auctions by Januray 2014.
We recognize that the recommendations made by TRAI are a very good way forward. There was a need for bringing in more realism to the reserve price
MF Farooqui
Secretary
DoT
Also Read: TRAI recos to be accepted despite DoT reservations: Expert
Below is the verbatim transcript of his interview on CNBC-TV18
Q: What is your view on the recommendations by TRAI?
A: We recognize that the recommendations made by TRAI are a very good way forward. There was a need for bringing in more realism to the reserve price. We cannot forget what happened in November and March at the same time there are certain areas where the committee had sought for some clarity. It is always better to have very good clarity and then take the decision.
Q: Simon Israel the chairman of SingTel which is one of the investors in the telecom sector in India indicated that probably they would be interested in sponsoring Bharti Airtel's M&A endeavors in the country and Bharti has on record said that they would like to be on of the leaders and would like to contribute to the consolidation of the telecom sector in India. They recently held a series of meetings with government officials and also with various ministers including the finance minister. Do you now see that with FDI cap having been increased to 100 percent, not just SingTel but maybe Vodafone would also see investments coming in from foreign investors?
A: Without talking about any specific company let me say that the whole purpose of increasing the FDI was to make sure that those who were not able to undertake expansion or not able to undertake the required investments because they had reached the cap or were about to reach the cap they are given more headroom.
Telecom has led India's growth story four-five years earlier. We think that this is again when the data picks up there will be another opportunity for the telecom sector to script yet another growth story for the country.
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