SC ruling on AGR will lead to telcos’ collapse: Ficci writes to Sitharaman

Industry body Ficci has sought intervention of finance minister Nirmala Sitharaman to address the issue of telecom sector and save it from brink of collapse.

A letter dated November 27, written by Ficci president Sandip Somany to Sitharaman, said the sector is saddled with massive debt (estimated to be over Rs 7 lakh crore) and has almost no appetite to invest in networks and future technologies.