Only Reliance Jio, Bharti Airtel will survive: India telecom headed towards duopoly after AGR verdict

With Supreme Court ordering telecom dues to be collected based on Department of Telecommunication’s demand, India may be headed towards a duopoly structure as the ruling has made matters worse for Vodafone Idea Ltd while Bharti Airtel and Reliance Jio are well placed due to strong balance sheets, analysts said on Thursday.

The apex court on Wednesday rejected the adjusted gross revenue (AGR) dues determined by telcos through a self-assessment exercise and ordered them to pay the principal together with interest and penalties.