Speaking at the Express Adda on Saturday, the minister allayed concerns of a duopoly emerging in the market with weakening financials and dropping market share of Vodafone Idea Ltd
Telecom minister Ashwini Vaishnaw has said that India will not see a monopoly or duopoly in the telecom sector with state-owned BSNL emerging as a ‘very stable’ player, according to a PTI report. Speaking at the Express Adda on Saturday, the minister allayed concerns of a duopoly emerging in the market with weakening financials and dropping market share of Vodafone Idea Ltd.
Being asked whether the state of affairs in Vodafone Idea and the current financial struggles faced by Airtel would leave Reliance Jio the single dominant mobile telephony player, the minister responded that, “No, we are not heading towards a monopoly. Even a duopoly will not be there. BSNL is coming up as a very stable player in the market.”
The telecom market currently has three private players – billionaire Mukesh Ambani’s Reliance Jio, Bharti Airtel and Vodafone Idea Ltd. The minister stated that state-owned BSNL is stabilising operationally, adding that, “They have started making operating profits now. It’s a turnaround story for BSNL.”
When asked whether there would be four thriving players or three thriving players and one struggling player, Vaishnaw replied that the market would decide
According to the minister, the technology BSNL is going to use, India’s 4G and 5G stack, is a step above similar technologies across the world. He also asserted that India will become the biggest semiconductor manufacturing destination in the next five years with the government ensuring that the right ecosystem is built.