Indian telecom has been a bad dream for foreign investors: Marten Pieters, Former CEO, Vodafone India

NEW DELHI: The Supreme Court’s decision on the contentious issue of adjusted gross revenue (AGR) has reinforced the belief that foreign investments in telecom haven’t paid off, former Vodafone India chief executive officer Marten Pieters told ET.

Pieters, a former Vodafone Group Plc board member, said that for most foreign investors, it’s been a “bad dream,” given the negative developments in the sector, including the entry of a monied Reliance Jio Infocomm, besides regulatory hurdles.

“For most foreign investors, it has been like a bad dream… The Indian telecom market has developed in a very negative way for investors,” he said.