Supreme Court ruling on adjusted gross revenue casts shadow over telecom industry’s future

India’s telecom industry, with an overall debt of over Rs 4 lakh crore, faces an uncertain future as it is may find it difficult to pay the dues to the Centre, following the Supreme Court order on adjusted gross revenue. The incumbent operators are expected to file a review petition, according to industry sources. The biggest impact will be on Vodafone Idea, who will be asked to pay around Rs 40,000 crore.

“There is no way Vodafone Idea can pay this amount and still have funds to invest in future network roll-outs. They would rather close operations, leaving just two players in the sector — Reliance Jio and Airtel,” said an industry expert.