Foreign Telecom to Bid Farewell

One possibility of this sudden development made by the government is because of the 2G scandal in 2008 and henceforth government has taken strict actions against the telecom industry. Mr. A. Raja, the then telecom minister has been charged with the allegations of taking bribe to sell the license, along with his two associates. And this event made Supreme Court come to the concensus of cancelling 122 licenses including the 22 which is considered as the possession of Telenor.

India was blessed by the foreign telecom companies who wanted to invest on our market because their market could not facilitate speedy growth to their companies and so they wanted to experiment in India which is considered as the fast growing market for telecommunication. But now their hopes of growing in India are slowly fading away because of government’s new policy.

Many telecom firms refused to participate in the auction without any reason like Bahrain Telecommunication Company said that it is unlikely that they would participate in the auction rather they would invest in some existing operators; similarly TeliaSonera of Europe said that it wasn’t interested in the sale and Telstra failed to mention any suitable reason to not participate.