Foreign investors turn back on Indian telcos

NEW DELHI: The Indian telecom service providers are finding it hard to bargain for a credit from multinational bankers, investors and wealth management companies to fund infrastructure expansion, following domestic lenders’ refusal ahead of upcoming spectrum auction across multiple bands including airwaves for the next-generation services.

“Right now, they (bankers) are not very favourably looking at the industry and even the country, and say that they don’t see any upside now and even the growth in the economy is slowing down. So, that is causing worry for foreign investors,” Rajan S Mathews, director-general of the Cellular Operators Association of India (COAI) told ETT.