Supreme Court’s AGR ruling will lead to telecom sector’s collapse: FICCI to FM

NEW DELHI: The Supreme Court ruling on adjusted gross revenue will not just lead to the collapse of the telecom sector but will also have a cascading effect on several other sectors including power, steel and railways, according to industry chamber FICCI.

The Federation of Indian Chambers of Commerce and Industry (FICCI) in a letter to Finance Minister Nirmala Sitharaman seeking her urgent intervention to resolve woes in the telecom sector said the debt-ridden industry has no appetite left to invest in networks and future technologies while businesses across the world are exploring new opportunities around emerging technologies like 5G, artificial intelligence and internet of things.