Telcos themselves to blame for not investing in new tech: Reliance Jio
Lowering of these levies can generate Rs 20,000-25,000 cr additional EBITDA for industry Latest news : Mukesh Ambani-owned Reliance Jio on Monday said telcos not investing in new technology and instead leveraging their balance sheet are themselves to blame for financial difficulties. Newcomer Reliance Jio, which met the Interministerial Group (IMG) on Monday said operators need to raise funds by selling stake or invest in new technology through internal accruals. "Operators (excluding Jio) need to invest Rs 1,25,000 crore, payback debt and they need to invest in technology, as growth is happening in data...They can do this by selling stake," said a senior Jio official who did not want to be named. Stating that the financial stress being faced by operators was "their own creation", the official said the only policy intervention required is in form of reduction in GST rates, licence fee and USO levies. Raed this: No duplicate beneficiaries: For ...