Adani Group has no plans to enter telecom sector: Chief financial officer

NEW DELHI (Reuters) – Indian conglomerate Adani Group, owned by billionaire Gautam Adani, said on Thursday that it does not have any plans to enter the country’s telecom sector.

Adani, the world’s third-richest man according to Forbes, has been diversifying his empire from ports to energy to now owning a media company.

However, the Adani Group has stayed away from India’s telecom sector, where rival Mukesh Ambani’s Reliance Industries’ unit Jio became a dominant player by offering low-cost services since its debut in 2016.

“We have no plans or ambitions in telecom,” Jugeshinder Singh, Adani Group’s chief financial officer, said at a press conference in Mumbai.