Modi Government Is Pro-Business, Outlook In The Country Has Changed- Vodafone CEO

On the tax dispute with the government, he said, there is a process which is a kind of civilised process that has been established between nations and companies to resolve disputes. "That's great and we will just follow the process. The problem in India is slow and some tines contradictory to the speed of the regulatory process. There is an arbitration process, we think the process can happen," he said. Asked whether Vodafone can enter into an agreement with the government directly on the issue, he said,"You can never rule out anything in an arbitration process because it is a mechanism for finding a private solution to the dispute. So nothing can be ruled out."

To another question if arbitration process has started, Colao said it was in a preliminary stage. Asked whether Vodafone was disappointed that the new government left the tax dispute as it is in the first budget, Colao said he was not disappointed. 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.

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